Exclusive Thai Owner of Miss Universe Files for Bankruptcy, Putting 73rd Pageant in Limbo

Thai Owner of Miss Universe Jakkaphong Jakrajutatip

A year ago, a company owned by Donald Trump sold Miss Universe pageant for $20 million.

According to JKN Global Group, a move will be made by it to settle the liquidity problem.

A pageant that has become more inclusive and Anne Jakapong Jakrajutatip, the transgender woman, who is its chief executive, owns the company.

Nevertheless, the company is incurring debts that may need some reorganization.

“the court has granted the company to carry on its business while under the regime of rehabilitation plan” as stipulated by JKN.

However, the company failed to make a payment deadline that was near to $12 million due on 1 September.

Over the last year, JKN’s share price has dropped over 80%.

According to the firm, the Thai Bankruptcy court will hold a hearing regarding the petition for business rehabilitation on 29 January.

As from today, since it is under the control of JKN, the pageant has permitted mothers and married woman to join the contest.

For the first time, there will be at least two trans women since Marina Machete won Miss Portugal and Rikkie Valerie Kolle was crowned Miss Netherlands in July.

It has been more than seven decades since it initiated its operations and this page continues to reach out to almost 165 countries through television.

In fact, Mr. Trump co-owned the Miss Universe Organization between 1996 and 2015.

After two potential television partners stated that they would cease airing the pageant in response to Mr Trump’s comments regarding the state of illegal immigration during his 2016 bid for presidency, he sold the company.

He was also attacked when Miss Universe contestant Alicia Machado said Mr Trump called her a “Miss Piggy”.

The model, who was born in Venezuela, said that the comments were made when she gained weight after winning a contest in 1996.

Following the company’s 2015 sale to US talent agency WME-IMG, Mr. Trump remarked in a statement, “When I purchased the pageants many years ago, they were in serious trouble.”

It has been a tremendous honor to see them achieve such accomplishment. The pageants are now under the management of an excellent organization that will guide them to even higher achievement levels.”

About Jakkaphong Jakrajutatip

Ms. Jakkaphong Jakrajutatip is Thailand’s entrepreneur and Tv host, CEO JKN Global Group. Additionally, she has founded and is running a non-profit organization named “Life Inspired for Transsexual Foundation” that fights for the rights of transgenders in the country.

Jakkaphong was a son of Thai immigrant parents, who bore him in Bangkok in 1979. Prior to entering into business, she was a model and an actress. She owns her own media and entertainment company called JKN Global Group. Currently, JKN global group owns several Thai television channels and a couple of digital and print media organizations.

For instance, Jakkaphong is famous in October 2022, when she bought Miss Universe Organization worth of $20 million US dollars. She became the first transgender owner of the Miss University Organization.

Jakkaphong supports gender equality, especially transgender community with various speeches against anti LGBT prejudice in Thai society. She is considered as a source of inspiration for numerous transgender individuals globally.

Here are some of her notable achievements:

• A media and entertainment company based in Thailand, JKN Global Group.
• Founder, and the director of “Life inspired for transsexual foundation”, a charitable institution working towards the recognition of transsexuals human rights in Thailand.
• A first ever transgender person to buy Miss Universe company.
• The winner of Forbes 2022 Asia Impact Award.

Jakakphong is one of very few extremely successful businesses women/transgender activists. Many people across the globe are inspired by her.