Bud Light is making a $200,000 donation to the National LGBTQ Chamber of Commerce (NGLCC) to support “economic opportunities and advancements for LGBTQ+ Americans,” according to a press release from its parent company Anheuser-Busch.
The company suffered significant losses after many Americans began a boycott of Bud Light earlier this month, after the brand created a special beer can for transgender TikTok influencer Dylan Mulvaney. In the wake of the fallout, Anheuser-Busch released a statement Monday, saying that it was “extending [its] partnership” with NGLCC by donating $200,000 to the Communities of Color Initiative (CoCi) and the CoCi Biz Pitch program.
“This year, Bud Light will donate $200,000 to the NGLCC in support of its Communities of Color Initiative (CoCi),” the press release read. “This initiative is designed to support the growth and success of minority LGBTQ+-owned businesses through certification, scholarships and business development in an effort to create equal opportunities for the economic advancement of small businesses in the LGBTQ+ community. The brand will also be supporting NGLCC’s first-ever CoCi Biz Pitch program, where the winning minority LGBTQ+ business owner will receive $5,000 and have the chance to go on to compete at the 2023 NGLCC International Business & Leadership Conference LGBT Biz Pitch Competition for $50,000 in cash and prizes.
Anheuser-Busch touted its 20 years of “advancing LGBTQ equality” and its “strong” relationship with the community, according to the press release. The news comes just weeks after LGBTQ groups and businesses also began a boycott of the brand due to the company reportedly offering free beer to make amends for the partnership with Mulvaney.
“We’re honored to continue our partnership with Bud Light in support of LGBTQ+ businesses,” NGLCC said in the press release. “We appreciate the brand’s ongoing efforts to bolster our Communities of Color Initiative that empowers and supports both minority LGBTQ+ business owners and entrepreneurs, as well as the vital roles they play in communities across the United States.”
Anheuser-Busch’s stock dropped by over $6 billion in the days after the Mulvaney announcement and continued to drop well over a month later as many conservatives embraced a boycott of the brand. Sales dropped by 25.7% in the week of May 20 and had dropped by nearly 30% when compared to last year’s sales during the same time period.
Anheuser-Busch and NGLCC did not immediately respond to the Daily Caller News Foundation’s request for comment.
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