Thai Transgender Tycoon Buys Miss Universe Pageant For $20 Million: Report

A businesswoman in Thailand, who is also a transgender rights activist, has bought the company that runs the Miss Universe beauty pageant for $20 million, according to a report in NBC News. With the deal, Anne Jakkapong Jakrajutatip has become the first woman to own global beauty pageant in its 71-year history, the outlet reported citing an announcement made by her company.

NBC News further said that Ms Jakrajutatip has starred in regional editions of "Project Runway" and "Shark Tank" in her native Thailand. She is the CEO of media company JKN Global Group, which makes television shows in Thailand.

According to NBC News, Ms Jakarajutatip said that the purchase of Miss Universe brand is a "strong, strategic addition to her portfolio."

"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 release.

Endeavour's IMG acquired The Miss Universe Organization in 2015, which was co-owned by former President Donald Trump between 1996 and 2015. Paula Shugart, the current president, and Amy Emmerich, the current CEO, will continue to serve as the organization's leaders, the outlet further reported.

After the agreement with the JKN Global Group, Endeavour President Mark Shapiro issued a statement in which he stated that he was "proud of the progress the organisation has made in becoming a more powerful platform where women can advance both their business objectives and their cause-based work."

In order to promote the rights to dignity and opportunity for transgender individuals, Ms Jakrajutatip founded the Life Inspired for Thailand Foundation. She has been open about her experience as a transgender woman, reported SCMP.