DeSantis, the Governor of Florida, has called for a comprehensive probe into the financial assets of global brewing giant, Anheuser-Busch InBev. The company has recently been embroiled in a marketing scandal involving Bud Light, one of its flagship brands, and a contentious partnership with a transgender influencer.
The Governor’s call for action was articulated in a letter addressed to Lamar Taylor, the acting head of the State Board of Administration (SBA). In his letter, DeSantis underscored the alarming 30% slump in the company’s sales witnessed in June. The SBA, an entity responsible for the stewardship of assets belonging to Florida’s state and local governments, has been tasked with scrutinizing the repercussions of Anheuser-Busch InBev’s actions on its investment portfolio.
Governor DeSantis stressed the SBA’s legal duty to prudently manage the funds of Florida’s public servants, including law enforcement officers, teachers, firefighters, and first responders. He urged the board to prioritize financial growth over the endorsement of ideological stances through what he termed as “woke virtue signaling.” DeSantis called for an immediate review to gauge the impact of the company’s behavior on the SBA’s investment in Anheuser-Busch InBev.
— Ron DeSantis (@GovRonDeSantis) July 21, 2023
The Governor did not rule out the possibility of a legal action by shareholders, hinting that Anheuser-Busch InBev may have failed to uphold its legal obligations to its shareholders. He assured that all possible measures are being considered to shield the SBA and Florida’s pensioners from financial losses caused by the company’s neglect of its duties.
DeSantis made these revelations during an interview on Fox News. He disclosed that the pension fund had a $50 million stake in InBev stock, and the depreciation in its value has had a negative impact on Florida’s teachers and other pension beneficiaries. DeSantis criticized the company for sidelining its business objectives to pursue its social agenda, which he believes has resulted in financial detriment for the shareholders.