Gov. DeSantis Calls for Review of Florida Pension Fund’s Holdings in Anheuser-Busch InBev After Bud Light Promotion Sparks Boycott from Conservatives

Florida Gov. Ron DeSantis is calling for a review of the state’s pension fund holdings in Bud Light’s parent company, Anheuser-Busch InBev, after the beer brand’s promotion with transgender influencer Dylan Mulvaney sparked a boycott from some conservatives.

In a letter to the Florida State Board of Administration on Thursday, DeSantis said the board “may have breached legal duties owed to its shareholders” and that “all options are on the table” to protect the SBA and retirees, including a possible shareholder action.

The controversy began in March when Bud Light launched a promotion with Mulvaney, a transgender actress and activist. The campaign was met with backlash from some conservatives, including singers Kid Rock and Travis Tritt, who called for a boycott of the popular beer.

The boycott has been linked to an ongoing sales slump for Bud Light, with both conservatives and members of the LGBTQPQ community expressing their disapproval of the marketing campaign.

DeSantis, a 2024 Republican presidential candidate, said he was calling for a review of the pension fund’s holdings in Anheuser-Busch InBev to ensure the funds of Florida’s hardworking law enforcement officers, firefighters, and first responders are managed prudently and focused on growing returns, not subsidizing an ideological agenda.