According to an announcement made by her company on Wednesday, a Thai business mogul and transgender rights campaigner has paid $20 million to acquire the Miss Universe Organization.
Chakrapong "Anne" Chakrajutathib, the transgender woman in charge of JKN Global Group Public Co. Ltd., is a well-known figure in Thailand. She has been on reality television and has not been shy about discussing her transition. In order to advocate for the rights of transgender people, she was one of the founding members of the Life Inspired For Transsexual Foundation, a non-profit organization.
IMG Worldwide LLC, a sports, entertainment, and events marketing organization that has controlled the Miss Universe Organization since 2015, was the seller of the rights to the Miss Universe pageant, according to JKN, which stated that it has bought the rights. Since 1996 up to IMG's purchase, Donald Trump, the 45th President of the United States, was a co-owner of the pageant rights.
JKN has announced that it has created a company in the United States known as JKN Metaverse Inc. in order to acquire ownership of the Miss Universe Organization. IMG reports that the Miss Universe contest is shown in 165 different countries throughout the world.
Chakrapong referred to the acquisition as a powerful and strategic addition to our portfolio in a statement that he released. JKN, a company that is involved in the distribution of material as well as the production of beverages, food supplements, cosmetic products, and other consumer goods, has announced that it will exploit the Miss Universe moniker to market its consumer goods.
According to a biography on Chakrapong that was published earlier this year in the Bangkok Post newspaper, when she was younger, she attended an all-male school in which she was tormented for identifying as a female student. According to the newspaper, after she became successful financially, she spent 40 million baht, which is equivalent to one million dollars, on surgery for sex reassignment and other operations.
The lack of a mechanism for transgender individuals to alter their legal gender, insufficient legal safeguards, and societal stigma all work together to limit transgender people's access to resources and subject them to routine indignities, according to a report published by Human Rights Watch in New York City last year.
The preceding is a summary of an article that originally appeared on Headline Wealth.