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Bud Light is still feeling the effects of the boycott<\/a> that followed its association with a transgender influencer.<\/p>\n The beer brand, which used to top the sales charts, has slipped to the third best-selling beer, as Michelob Ultra has surpassed it to claim the number two spot. Modelo Especial, which overtook Bud Light when the boycotts began, remains the best-selling beer in the U.S.<\/p>\n While it\u2019s a shocking slip for the brand, it\u2019s a clear sign of the power of Leonard Leo<\/a>, a right-wing power broker that many Americans have never heard of.<\/p>\n Tax filings obtained by The Guardian<\/em><\/a> show a group linked to Leo helped bankroll the furor over Bud Light\u2019s ad with Dylan Mulvaney. That group, Concord Fund, reportedly gave $350,000 to Consumers\u2019 Research, which played a central role in the boycott, launching a text alert service letting people know if a product was \u201cwoke\u201d or not<\/a>.<\/p>\n Leo is co-chairman of the Federalist Society, a conservative activism group that is credited with advising then-President Donald Trump on his Supreme Court appointments, as well as helping to guide the confirmations of the court\u2019s three other conservative justices: Clarence Thomas, John Roberts and Samuel Alito.<\/p>\n Bud Light represented 6.5% of beer dollar sales in U.S. stores in the four weeks ended July 6, compared with 7.3% for Michelob Ultra and 9.7% for Modelo, according to The Wall Street Journal<\/em><\/a>. In February 2023, the brand had a better than 10% of the total beer sales in U.S. retail stores.<\/p>\n The sales drop comes amid an industry-wide slowdown, as younger consumers lean away from alcohol and embrace both legalized marijuana and non-alcoholic beers. The upside for AB-InBev, though, is that it also owns Michelob Ultra, so even with Bud Light\u2019s sales drop, it can still claim two of the three best-selling beer slots.<\/p>\n<\/div>\n\nRecommended Newsletter: <\/strong>CEO Daily provides key context for the news leaders need to know from across the world of business. Every weekday morning, more than 125,000 readers trust CEO Daily for insights about\u2013and from inside\u2013the C-suite. Subscribe Now<\/a>.<\/div>\n<\/div>\n