The billionaire said he's not a big beer drinker, but that didn't stop his foundation making a big investment in the parent company of Bud Light.
The Bill and Melinda Gates Foundation Trust last quarter bought 1.7 million shares of Anheuser-Busch , valued at around US$95 million , according to a regulatory filing, signalling that Gates has confidence in the US beer company that has been dealing with a steep sales slump of one of its biggest beers.
But Gates' trust has lost money on his investment so far: A-B's stock is down nearly 2 per cent since the purchase. The stock is down about 7 per cent for the year. Revenue fell US$395 million in North America during the period, compared to the same time a year ago. That figure included sales in Canada, where revenue rose, suggesting the slump was isolated to the United States.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Coast surfer takes pet snake out to catch wavesShiva is often seen catching waves with her owner Higor Fiuza, but there&x27;s one difference — she&x27;s a snake.
Read more »
Version of Monopoly to celebrate iconic suburbThe town&x27;s most iconic institutions will replace spaces from the original board.
Read more »
G20 dinner invitation fuels rumours of a name change for IndiaIndia&x27;s Prime Minister has sparked questions about whether the nation could be headed for an official name change after &x27;India&x27; was replaced with a Sanskrit word on G20 Summit invitations.
Read more »
Closing Loopholes Bill loops noose around casual workIf the government wants to address “permanent casuals”, the bill should focus on that. But it looks like a bait-and-switch end casual employment more widely.
Read more »
NSW government raises coal royalties and forecasts you’ll barely notice it on your billNSW Treasurer Daniel Mookhey says the state’s coal producers will be taxed more – and the cost to householders will be less than $6 a year.
Read more »