(NewsNation) — The Bill and Melinda Gates Foundation Trust bought 1.7 million shares in Anheuser Busch stock during a tumultuous time for Bud Light’s parent company, a regulatory filing from August shows.

All those shares amount to about about $96 million, according to MarketWatch.

Anheuser Busch Inbev recently said that its U.S. revenue fell 10.5% in the second quarter. Nielsen data, compiled by Bump Williams Consulting, showed Bud Light’s U.S. retail sales were down 26% in the month ending July 22 compared to the same period a year prior.

Bud Light faced transphobic backlash after partnering with Dylan Mulvaney for an Instagram ad earlier this year. Mulvaney, a transgender influencer, shared a sponsored post promoting a March Madness contest the company was doing. Conservative pundits and celebrities criticized Bud Light, with some saying they would boycott the company. Anheuser Busch also drew ire from LGBTQ+ groups and advocates for not doing more to stand up for Mulvaney after she said she faced harassment.

This controversy didn’t deter Gates’ Foundation from putting money into the company, although this isn’t the first time that the billionaire’s bought beer stock: He also purchased 10.8 million shares, worth $900 million in Heineken in February, Quartz reported.

So far, CNN reports, Gates’ trust has lost money on his most recent beer investment, as Anheuser Busch’s stock is down about 2% since the purchase, and down about 7% for the year.

The Associated Press contributed to this report.