Bill Gates made a nearly $100 million bet on Bud Light

(CNN) – Bud Light’s parent company has a prominent investor, even as it deals with a sales slump.

Last quarter, the Bill and Melinda Gates Foundation Trust bought $95 million worth of shares in Anheuser-Busch.

Gates bought the stock around the time Bud Light alienated some of the company’s core base because of its partnership with transgender influencer Dylan Mulvaney.

Since then, Anheuser-Busch stock has dropped about 2%, losing Gates money.

Gates has previously admitted he’s “not a big beer drinker,” but he’s also invested nearly $1 billion worth of shares in Heineken holdings.

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