He’s one of the greatest soccer players of all time, with nearly 300 million fans on Instagram alone, so when Cristiano Ronaldo snubs your product, you know you’ve got a problem.

In a matter of seconds overnight the 36-year-old Portugal captain managed to temporarily wipe more than AU$5 billion off the market value of Coca-Cola in Europe.

Two bottles of Coca-Cola were placed directly in front of the soccer star at his Euro 2020 press conference. But Ronaldo was having none of it.

Spotting the fizzy beverage he pointedly moved them out of sight before placing a bottle of water in front of him, saying: “Drink water” in Portuguese.

The incident happened when Ronaldo, who is renowned for his strict diet and dislike of sugar, was sitting down to address the media before his team’s Group F clash against Hungary in the Euro Championships.

SEE THE MOMENT RONALDO COST COCA COLA $5B IN THE PLAYER ABOVE

It appears the stock market was also watching.

The Athletic has reported that at the start of the press conference Coca-Cola’s shares were worth $73.02 each, and by the end they had dropped to $71.85 — representing a $5.2 billion hit.

The stock value has since bounced back but the incident is a sharp reminder about the power of influencers, and Ronaldo is their king.

Coca-Cola, an official sponsor of the Euro 2020 tournament, initially responded to the incident saying “everyone is entitled to their drink preferences” and that everyone has different “tastes and needs”.

“Players are offered water, alongside Coca-Cola and Coca-Cola Zero Sugar, on arrival at our press conferences.”

But it did not address the stock price shock.

Of course, fans have also been quick to point out that Ronaldo has not always felt so strongly about making healthy choices. Pointing out he has in the past promoted KFC, McDonald’s and Coca-Cola.

After the press conference, Ronaldo became the all-time top scorer at the European Championships after two goals in the final minutes helped title holders Portugal beat Hungary 3-0.

Ronaldo now has 11 goals, taking sole possession of the record he previously shared with France’s Michel Platini on nine.