The astonishing inside story of how Bud Light lost its position as the most popular beer in the United States from a longtime Anheuser-Busch executive. Anson Frericks, a former president at Anheuser-Busch—formerly the home of America’s most popular brewery—watched as the company unraveled at the hands of globe-trotting financiers and progressive middle management. Rather than pursue shareholder profits, Anheuser-Busch suddenly became focused on stakeholder capitalism and the vague mandates of environment, social, and governance (ESG). This ill-advised change cumulated in the shocking evaporation of $30 billion in market cap after releasing an advertising campaign starring political activist Dylan Mulvaney. Now, Anheuser-Busch’s evolution and its subsequent fallout is brought to light as never before with this ultimate insider’s look. Compelling, candid, and eye-opening, Last Call for Bud Light is the unforgettable story of the downfall and future of an American icon.