Conservatives recently rose up in outrage after Bud Light partnered with transgender influencer Dylan Mulvaney.

They called for a boycott of the company, and many of the MAGA movement’s most ardent and outspoken members blasted the collab.

Even Trump’s greatest apparent rival for the 2024 GOP nomination, controversial conservative figure Florida Governor Ron DeSantis, spoke out in favor of a boycott.

But one important voice was silent: Donald Trump.

And now it makes a little more sense.

Because, as it turns out, Trump owns a significant number of Anheuser-Busch stocks, the parent company of Bud Light.

A financial disclosure form filed with the FEC shows that Trump owns somewhere between $1M and $5M in Anheuser-Busch InBev stock under an account listed as “DJT Trust – Investment Account #2.”

It makes sense that he wouldn’t want to speak out against his significant financial interest. But it must be frustrating to watch your supporters go after your bottom line, and not be able to say anything.