Rapid City, S.D. (April 19, 2023) – The South Dakota Freedom Caucus is condemning the recent actions of Anheuser-Busch’s use of Dylan Mulvaney and calling on Governor Kristi Noem to immediately divest in the state’s holdings in the company, totaling thousands of shares of stock in the Anheuser-Busch company according to a Securities Exchange Commission report from December 2022.
Anheuser-Busch’s recent partnership with Dylan Mulvaney, as announced on April 1, 2023, and the subsequent controversial video of him drinking Bud Light posted on April 2, 2023, has caused significant harm to the company’s reputation. The New York Post reported on April 12, 2023, that Anheuser-Busch has lost more than $5 billion in value since the Mulvaney video was released.
The Freedom Caucus strongly believes that the state’s investment in Anheuser-Busch is not only a bad investment for South Dakota taxpayers, but goes against the state’s values and interests.
“South Dakota needs to put our money where our values are,” said Tony Randolph, Vice-Chair of the South Dakota Freedom Caucus. “We cannot continue to invest in a company that promotes values that are contrary to those of South Dakotans.”
The call to divest from Anheuser-Busch comes amid a series of actions by Governor Kristi Noem and the state of South Dakota that have been praised by the South Dakota Freedom Caucus.
Last year in December, Governor Kristi Noem ordered the South Dakota Department of Health to terminate a contract with the transgender activist group, Transformation Project, which according to a statement from Ian Fury from the Governor’s office, “was signed without Gov. Noem’s prior knowledge or approval.” A few days later South Dakota Secretary of Health Joan Adams announced her resignation of her position. These events preceded the passage of HB 1080, the “Help Not Harm” bill which prohibited medical mutilation of children suffering from gender dysphoria, and was signed into law by Governor Noem this last February.
“Men imitating as women is offensive,” said Tina Mulally, Treasurer of the South Dakota Freedom Caucus. “South Dakota should be investing in companies that respect our values, not promoting those that undermine them.”
The Freedom Caucus calls on Governor Kristi Noem to take swift action to divest South Dakota’s investment in Anheuser-Busch and to send a clear message to the company that its actions are unacceptable.
“We stand with the people of South Dakota and Governor Noem,” said Vice-Chair Representative Randolp, “in holding corporations accountable that seek to profit off of our values.“
