Florida pensions took a bath on ‘woke’ beer … and Ron DeSantis wants revenge
Bud Light comes out of a tough year.

Bud light american beer blue cans in the refrigerator Mexico.
Strange brew: Why did Florida's pension fund hold $50M of 'woke' Bud Light parent company stock?

The saying “go woke, go broke” has been bandied about in recent months, but it turns out even the land where Woke Goes to Die is not immune.

During a Fox News hit Thursday night, Gov. Ron DeSantis noted that Florida’s pension fund had roughly $50 million in exposure to the pension fund, as the state “overweighted” Bud Light parent company InBev.

“Well, we had over $50 million worth of stock, and Florida’s pension fund’s about $180 billion. So it’s a pretty big endeavor, but it has absolutely hurt teachers, it has absolutely hurt other pensioners,” DeSantis told Jesse Watters.

DeSantis lamented the company’s “political agenda,” as embodied by hiring spokesmodel Dylan Mulvaney, as having cost shareholders, especially in Florida, where the state seems to have held stock for months as the state’s politicians and others on the right mocked the brand and helped to erode its market share.

“So what we’re doing since we do have these shares, we believe that when you take your eye off the ball like that, you’re not following your duty to do the best you can for your shareholders,” said the Governor, who has been traveling across the country for months on first a book tour and then a presidential campaign.

The Governor vowed to bring the company to heel, perhaps with a lawsuit from the Florida State Board of Administration to punish InBev for losing value amid controversy.

“So we’re going to be launching an inquiry about Bud Light and Inbev and it could be something that leads to a derivative lawsuit filed on behalf of the shareholders of the Florida Pension Fund,” DeSantis said, saying “penalties” fit the company that “put business aside to focus on (its) social agenda.”

DeSantis has worked Bud Light bashing into his campaign speeches, recently telling South Carolina supporters the company is trying to push “transgenderism.”

Previously, on “The Benny Show” podcast video, the Governor vowed never to drink the domestic light beer again, saying a boycott of the brew was “righteous.”

“Why would you want to drink Bud Light? I mean, like, honestly that’s like them rubbing our faces in it. And it’s like, these companies that do this, if they never have any response, they’re just going to keep doing it. So, if you as a consumer are like … ‘Yeah, they’re doing that, but I’m just going to keep drinking anyways,’ well, then they’re going to keep doing it,” DeSantis said, before eventually revealing he liked Guinness better anyway.

A.G. Gancarski

A.G. Gancarski has written for FloridaPolitics.com since 2014. He is based in Northeast Florida. He can be reached at [email protected] or on Twitter: @AGGancarski


16 comments

  • SteveHC

    July 21, 2023 at 12:10 am

    In effect DeSantis directly contributed to the losses sustained by his own state’s pension fund. Lovely. The guy’s become a walking and talking wrecking ball, nothing but a bad news dude.

  • Suze

    July 21, 2023 at 12:37 am

    So he causes it then blame s others. Who does that sound like. We have seen this show before and it’s going to end with that guy in jail DeathSantis

    • weird

      July 21, 2023 at 1:51 pm

      he caused what?
      the choice of BudLight executives to chase after ESG scores instead of chasing sales of product is what caused the stock price drop.

      • Edwin

        July 21, 2023 at 3:22 pm

        Come on. Desantis is definitely involved in the backlash against bud lite, dont be obtuse.

  • My Take

    July 21, 2023 at 1:34 am

    What a fool.
    Don’t want it to go broke?
    Don’t boycott it.

    • weird

      July 21, 2023 at 1:53 pm

      nope, companies need to focus on sales, not ESG.

      no one invested stock in that company because of their ESG score, they invested because they were a reliable brand that was good at selling beer to their customers. failing that, they are absolutely responsible.

      • Edwin

        July 21, 2023 at 3:25 pm

        You need to understand that your position would lead florida to divest from any company that faces a boycott…

  • My Take

    July 21, 2023 at 1:37 am

    I liked HEAVY BEER in Tank McNamara.
    “Knocks you down [or out] before it fills you up.”

  • Perspecticus

    July 21, 2023 at 8:04 am

    Define “took a bath”? InBev stock makes up 0.028% of the fund’s holdings.

    And why isn’t he threatening to sue Russia for the same reason?

  • University of North Florida

    July 21, 2023 at 8:09 am

    clown!!

  • Michael Sanford

    July 21, 2023 at 1:12 pm

    He needs to make sure Florida invests in the “Diaper Club for GOP Manbabies”. They’ll make a mint keeping those boys dry in the drawers.

    • The.Truth.Comes.Out.In.The.End

      July 21, 2023 at 5:33 pm

      LOL!

  • James Brown

    July 21, 2023 at 1:50 pm

    In case you didn’t know Ronnie guiness has been a advocate for Gay rights long before you went to sleep.Stay woke

  • The.Truth.Comes.Out.In.The.End

    July 21, 2023 at 5:30 pm

    So does this mean FRS members can sue the State for mismanagement of funds? Rhonda wants to sue the company for a marketing decision. We should be able to sue the State for its lack of discretion/knowledge of its’ investments.

  • Michael K

    July 22, 2023 at 1:27 am

    The little media whore is desperate to generate a headline, no matter how racist, homophobic, xenophobic or sexual to throw red meat to his white nationalist base. Each passing day he shows how unfit he is to serve. Pathetic weak little man child.

  • Robert Price

    July 22, 2023 at 2:51 am

    That’s what your bigotry gets you!

Comments are closed.


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