Transgender public figure Dylan Mulvaney recently posted a TikTok video where he revealed he had a conversation with his father. He expressed his desire to date women, while also wanting to have children.
Dylan Mulvaney Goes on a Shopping Spree
Mulvaney’s statement was sharply criticized.
Many commentators speculated Mulvaney was manifesting signs of mental instability and using his transgender identity to gaslight the American public and build up his public persona.
Dylan Mulvaney reveals new ad after Bud Light fiasco https://t.co/RUIcOrmMmi
— Newsweek (@Newsweek) May 24, 2023
On May 27, 2023, Mulvaney was found in Los Angeles getting ready to pick up an $800 Prada bikini top and a pink dress from a local dry cleaner. He subsequently went to undergo a laser hair removal procedure.
Bud Light is Losing Big Money
Mulvaney’s public appearance was a rare incident, due to the relatively low-key profile he pursued in the wake of a controversial Bud Light advertisement campaign. This campaign allegedly lost the company roughly $16 billion since April 1.
Dylan Mulvaney comes out as a lesbian. pic.twitter.com/vnIYKUAryP
— Catch Up (@CatchUpFeed) May 28, 2023
According to several reports, Mulvaney made $1.5 million promoting transgender causes.
This landed him brand ambassador positions for companies like Charlotte Tilbury, Kate Spade, MAC Cosmetics, and Ulta. On top of that, he has worked for Nike and Walmart.
Per figures that JPMorgan beverage analyst Jared Dinges was able to calculate, Bud Light’s sales fell by over 23% in the past week. This was accompanied by a $15.7 billion loss in market value.
Dinges believes a 12% to 13% volume decrease in the US for Bud Light is expected to take place over the next year. Dinges believes there is a segment of American consumers who will not consume Bud Light products in the near future.
He added European Union beer counterparts outperformed Bud Light’s shares by 15% since the beginning of April.
Dinges argues this unfolding trend is owing to US uncertainty, with investors shifting their resources away from Bud Light as a response to the controversy that engulfed the American beer giant over the last month.