• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Supreme Court Justice Samuel Alito sold Bud Light owner’s stock amid boycott
Editor's Pick

Supreme Court Justice Samuel Alito sold Bud Light owner’s stock amid boycott

by May 22, 2024
by May 22, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer.

On the same day Alito sold Anheuser-Busch, he then bought the same amount of stock in Molson Coors, a company with a history of facing political boycotts of its own, the filing shows.

The transactions have bred fresh accusations that Alito, one of the high court’s six conservatives, is engaging in or aligning with partisan politics, despite a recently adopted code of conduct that directs the justices to “refrain from political activity.”

Alito sold between $1,000 and $15,000 of AB InBev’s stock on Aug. 14, 2023, according to a financial disclosure filing for the justice that was recently made visible through a federal judicial database.

The Supreme Court did not immediately respond to CNBC’s request for comment on Alito’s transaction report or the timing of his stock activity.

At the time of Alito’s stock sale, Anheuser-Busch was still grappling with a monthslong campaign to boycott Bud Light after the company partnered with transgender influencer Dylan Mulvaney in an April 2023 social media campaign.

The partnership threw the world’s largest beermaker to the center of a broader fight over transgender rights and acceptance in the U.S. — and stoked a backlash from both conservatives and supporters of Mulvaney, who was reportedly stalked and targeted with death threats amid the controversy.

In May 2023, Modelo replaced Bud Light as the top-selling beer in the U.S. Data from around that time showed sales of Bud Light had dropped nearly 25% year over year.

AB InBev nevertheless reported better-than-expected profits in the second fiscal quarter of 2023, and as of May appears to have emerged from the boycott efforts virtually unscathed.

Alito’s switch to Coors is also noteworthy in light of the company’s history of facing boycotts from Mexican-Americans, Black people and the LGBTQ community over workplace practices.

Alito’s investment activities came to light as the associate justice is facing a swell of criticism over a New York Times report that an upside-down U.S. flag — a symbol used by supporters of the pro-Trump “Stop the Steal” conspiracy — was flown at his home in the days after the Jan. 6, 2021, riot at the U.S. Capitol.

Alito denied any involvement in inverting the flag. He told the Times that his wife, Martha-Ann Alito, “briefly” did so “in response to a neighbor’s use of objectionable and personally insulting language on yard signs.”

But that statement has not quelled Alito’s critics, some of whom are now demanding he explain the timing of his sale of Anheuser-Busch.

“This sale, given the timing and much like an upside-down flag, can be construed as a political statement,” said Gabe Roth, executive director of the nonprofit judicial watchdog group Fix the Court, in an email to CNBC.

“I believe Supreme Court justices should refrain from making political statements — even oblique ones or even ones their wife or broker may have made on their property or in their brokerage accounts, respectively,” Roth said.

Roth noted that the beer companies in question have no pending business before the Supreme Court that he can think of.

But if Alito or his broker were truly reacting to the Bud Light boycott or the surrounding culture war, Roth said, then the stock sale “speaks more about the justice’s media intake and where that puts him on the political spectrum.”

“If the sale was in response to the Bud Light controversy last year, he might have an appearance-of-bias problem when it comes to future court cases related to trans rights,” Roth said.

The transaction notice was one of several that were posted to the Federal Judicial Financial Disclosure Reports database last week, and then removed without explanation. Roth said their disappearance was “possibly due to the newness of the system.” The reports had reemerged on the database as of late Monday morning.

The filings were first reported earlier Monday by the legal blog Law Dork.

The court is set to soon deliver a ruling on whether former President Donald Trump enjoys presidential immunity from criminal charges related to his efforts to overturn his loss to President Joe Biden in the 2020 election.

The court, which bears a six-to-three conservative majority after Trump appointed three justices, is not expected to grant Trump’s sweeping immunity claim that a former president cannot be charged for any official acts they perform in office. But the justices in oral arguments in April seemed skeptical of parts of federal prosecutors’ case against Trump.

This post appeared first on NBC NEWS
You Might Also Like
  • Tariffs would be ‘catastrophic’ for sales of tequila and mezcal, industry group says
  • OpenAI releases Sora, its buzzy AI video-generation tool
  • Hunter Biden sues Fox News under New York’s ‘revenge porn’ law
  • Walmart-owned Sam’s Club tests a future without checkout lines
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Trump Media lost $327.6 million in the first quarter of the year on revenue of just $770,500
next post
Pixar is laying off 14% of its workforce as Disney scales back content

You may also like

Passengers sue Boeing and Alaska Airlines for $1 billion over...

March 5, 2024

Universal’s new Epic Universe park set to generate $2 billion...

April 16, 2025

American Eagle profit soars, but sales grow slower than expected

May 30, 2024

Labor groups begin to unite behind Harris’ campaign — but...

July 24, 2024

NTSB grills Boeing execs on safety culture and retaliation allegations

August 8, 2024

Sixteen Nobel Prize-winning economists warn a second Trump term would...

June 26, 2024

Tiger Woods unveils new lifestyle brand and clothing line after...

February 14, 2024

McDonald’s reportedly temporarily shuts its U.S. corporate offices ahead of...

April 5, 2023

IoT Security Foundation Announces Fifth Report on Consumer IoT Vulnerability...

January 23, 2023

Walmart is laying off and relocating hundreds of corporate workers

May 16, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025
    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,581)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    AMC is poised to ride the...

    November 19, 2024

    Chipotle says restaurants will give bigger...

    July 28, 2024

    Aeris to Acquire IoT Business from...

    December 8, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here