"Not a Beer Drinker" Bill Gates Bought Stocks Worth 130 Billion Won Here

Purchased Shares of World’s Top 1st and 2nd AB InBev
"Likely Bought Due to Increased Gatherings and Outdoor Activities"

Bill Gates, the founder of Microsoft (MS) who had previously stated that he "does not enjoy beer," has purchased $100 million (approximately 133.5 billion KRW) worth of shares in Anheuser-Busch InBev (AB InBev), the world's largest beer company famous for Bud Light.

[Image source=Yonhap News]

According to US CNN and other media on the 7th, Gates acquired 1.7 million shares of AB InBev in the second quarter through the Bill & Melinda Gates Foundation. The amount corresponds to $96.6 million.

Headquartered in Belgium, AB InBev was formed in 2008 through the merger of Belgium-Brazil’s InBev Group and the US-based Anheuser-Busch, making it the number one company in global market share. In South Korea, AB InBev is also well known for acquiring Doosan Group’s OB Beer in 2014, splitting the beer market with HiteJinro.

In addition, the company drew attention when it was revealed in May that it had sponsored an influencer who transitioned from male to female in the US, which caused a sharp decline in local sales. This incident dealt a blow to Bud Light, which had been the top-selling beer in the US, pushing it down to second place, and the stock price fell from over 60 euros in April to the 40-euro range after the controversy.

Furthermore, in February, Gates purchased 10.83 million shares of Heineken Holding, the holding company of Heineken. The Dutch company Heineken is the world’s second-largest beer company.

Gates personally acquired 6.65 million shares and purchased 4.18 million shares through the Bill & Melinda Gates Foundation. The total stake was 3.8%, with the purchase amount based on the closing price approximately $902 million (about 1.2051 trillion KRW).

However, Gates is not known to be a regular beer drinker. Major foreign media reported that in 2018, Gates said on the US online community Reddit’s “Ask Me Anything” section that he "does not enjoy beer." At the time, he explained, "When I go to places like baseball stadiums, I drink lightly just to match the atmosphere of others," and apologized by saying, "Sorry to disappoint those who enjoy beer."

Regarding Gates’ investment, a domestic liquor industry insider explained, "As the endemic atmosphere matures, gatherings and outdoor activities are increasing, and the world’s top one or two companies have a positive long-term business outlook, it seems that (Gates) has decided to invest accordingly."