In a bold move to protect the interests of Florida’s hardworking law enforcement officers, teachers, firefighters, and first responders, Governor Ron DeSantis has instructed the State Board of Administration (SBA) to launch an inquiry into the global equity assets it holds with Anheuser-Busch InBev. The decision comes in the aftermath of controversy surrounding one of the company’s top brands, Bud Light, engaging in a paid marketing campaign with a controversial transgender influencer that created a major downturn in sales.
In a letter addressed to SBA Interim Executive Director Lamar Taylor, Governor DeSantis highlighted the nearly 30 percent loss in sales that the company experienced during the month of June. He expressed concern over reports indicating that large American retailers, like Costco, are considering removing Bud Light from their shelves due to lack of sales.
The sharp decline in sales and potential removal from major retailers point to a serious issue with the company’s management and its failure to address the concerns of millions of American consumers.
Governor DeSantis emphasized the importance of the SBA fulfilling its legal obligations to prudently manage Florida’s state and local government assets. He urged the organization to focus on growing returns rather than succumbing to what he described as “woke virtue signaling,” which puts ideological agendas ahead of financial responsibility.
“I therefore request that you immediately initiate a review to examine how AB InBev’s conduct has impacted and continues to impact the value of SBA’s AB InBev holdings,” the governor stated. He suggested that AB InBev may have breached its legal duties to shareholders, potentially warranting a shareholder action in response. Governor DeSantis stressed the need to protect SBA and the retirees of Florida from financial losses resulting from AB InBev’s alleged disregard of its duties.
During a recent appearance on Fox News with host Jesse Watters, Governor DeSantis elaborated on the issue, disclosing that the pension had $50 million invested in InBev stock. He expressed concern over the impact of the stock’s declining value on Florida’s teachers and other pensioners, noting that such losses can have a significant effect on their financial well-being.
“We believe that when you take your eye off the ball like that, you’re not following your fiduciary duty to do the best you can for your shareholders,” Governor DeSantis remarked. He emphasized the importance of ensuring that businesses prioritize their financial responsibilities and avoid being swayed by social agendas at the expense of hardworking individuals.
Governor DeSantis’ proactive stance serves as a reminder to all companies that prioritizing ideological agendas over fiduciary responsibilities can have severe consequences, impacting not just shareholders but also the livelihoods of countless hardworking individuals.
