Budweiser lost $800 million due to Elon Musk
This incident shocked everyone, in fact, the famous beer company Budweiser has suffered a huge financial loss of 800 million dollars in a single day, the reason for this is CEO Elon Musk, because his tweet is always doing something or the other.
The problem began when Musk shared a meme on Twitter that mocked the beer brand’s advertising slogan, “King of Beer”. The meme featured a photoshopped image of Budweiser with the text “Elon Musk favorite beer”
And this tweet was seen by many people and it quickly went viral, with many users expressing their opinions on the post. Many praised Musk for his humor, while others criticized him for taking a dig at a beloved American brand.
The fallout from Elon Musk’s tweet proved disastrous for Budweiser. The negative publicity spooked investors and the beer company’s shares fell nearly 10% in just one day, losing $800 million in market value.
Budweiser’s CEO, John Blood, issued a statement in response to the incident, expressing disappointment at Musk’s actions and vowing to take action to regain investor confidence.
Blood issued a statement saying he was saddened by Elon Musk’s insult and attack on Budweiser.
We are strong, and we can weather these storms, Blood said, and we assure our customers that nothing will happen to Budweiser beer, and it will remain King.
Musk, for his part, seemed unaffected by the backlash, tweeting a follow-up meme depicting a cartoon character drinking a can of Budweiser and captioning it, “Cheers to the haters.”
For now, it remains to be seen whether Budweiser will be able to recover from the huge financial losses, but one thing is for sure: the power of Twitter and the influence of high-profile personalities like Elon Musk cannot be underestimated. ,