Thanks to Elon Musk, Budweiser suffers a $800 million loss.

Elon Musk, the CEO of Twitter, played a pivotal role in the beer giant Budweiser’s shocking turn of events, which saw it lose $800 million in just one day.

Musk started the controversy by posting a meme on Twitter that parodied the beer brand’s catchphrase, “King of Beers,” in an offensive manner. In the meme, a photo of a Budweiser can with the slogan “Elon’s Favorite Beer” changed was used. ”.

Thousands of users shared and commented on the tweet, which quickly went viral. A lot of people praised Musk for his humor, but others chastised him for making fun of a well-known American company.

Unfortunately for Budweiser, the tweet’s repercussions were swift and severe. The bad press caused investors to panic, and the beer company’s stock fell by almost 10% in a single day, wiping out $800 million in market value.

In response to the incident, John Blood, the CEO of Budweiser, released a statement in which he expressed disappointment in Musk’s actions and vowed to take steps to win back investors’ trust.

Blood expressed sadness over Mr. Musk’s disrespectful and unnecessary attack on his brand.

“We will take measures to reassure our shareholders and customers that Budweiser remains the King of Beers.
We are confident in our products and our ability to weather this storm.

While tweeting a follow-up meme with the caption, “Cheers to the haters,” Musk, for his part, didn’t seem to be phased by the criticism.

It is currently unknown if Budweiser will be able to recover from the significant financial loss, but one thing is for certain: the influence of well-known people like Elon Musk and the power of Twitter cannot be understated.