Thai transgender businesswoman and advocate, and CEO of the Thailand-based media company JKN Global Group, Anne Jakkaphong Jakrajutatip has acquired the Miss Universe Organization for $20 million. The transaction was confirmed on Wednesday, Yahoo! News reported.
Jakrajutatip considers the acquisition to be a “strong, strategic addition to our portfolio.” She is the first-ever woman to ever own the pageant since its establishment in 1952.
“We seek not only to continue its legacy of providing a platform to passionate individuals from diverse backgrounds, cultures and traditions, but also to evolve the brand for the next generation,” she said in a press release.
Jakrajutatip is known for her appearance on local versions of “Project Runway” and “Shark Tank,” and contributions to the nonprofit transgender rights group, the Life Inspired for Transsexual Foundation.
The Miss Universe pageant currently broadcasts in 165 countries. The organization was co-owned by former President Donald Trump for nearly 20 years before it was sold to Endeavor’s IMG in 2015. It is now led by current CEO, Amy Emmerich, and president, Paula Shugart.
JKN Global Group, Endeavor President Mark Shapiro affirms to be “proud of the progress the organization has made in becoming a more inclusive and powerful platform where women can advance both their business objectives and their cause-based work.”
Emmerich concurs, saying the acquisition will help the organization flourish.
“Despite having recently celebrated the organization’s legacy of more than 70 years, we are just getting started,” she said.