Last Call for Bud Light: The Fall of America’s Favorite Beer

The astonishing inside story of how Bud Light lost its position as the most popular beer in the United States from a longtime Anheuser-Busch executive.

Anson Frericks, a former president at Anheuser-Busch--formerly the home of America’s most popular brewery--watched as the company unraveled at the hands of globe-trotting financiers and progressive middle management.

Rather than pursue shareholder profits, Anheuser-Busch suddenly became focused on stakeholder capitalism and the vague mandates of environment, social, and governance (ESG). This ill-advised change cumulated in the shocking evaporation of ＄30 billion in market cap after releasing an advertising campaign starring political activist Dylan Mulvaney.

Now, Anheuser-Busch’s evolution and its subsequent fallout is brought to light as never before with this ultimate insider’s look. Compelling, candid, and eye-opening, Last Call for Bud Light is the unforgettable story of the downfall and future of an American icon.

Anson Frericks is the founder of Athletic Capital and the cofounder of Strive Asset Management. Prior to founding Strive, he led finance, sales, and marketing operations as president of Anheuser-Busch Sales & Distribution Company. He lives with his family in Cincinnati and received his BA from Yale and his MBA from Harvard.