Miss Universe transgender "boss" bankrupt?

JKN Global, owned by transgender billionaire Anna Jakrajutatip, has recently been caught up in financial turmoil. However, the corporation that owns the Miss Universe pageant has reassured the public that the 2023 edition of the international pageant will still take place as scheduled.

Miss Universe transgender "boss" bankrupt?

"We confirm that Miss Universe 2023 will be held in El Salvador on November 18, 2023. Providing the ultimate experience for our fans will remain our top priority," the company announced in a statement shared by Jakrajutatip on social media yesterday.

"We reaffirm that the legacy of Miss Universe will be continued by JKN Global Group as originally intended," the statement said. Jakrajutatip had previously acquired full ownership of the Miss Universe Organization (MUO) in October last year for $20 million from its previous owner WME-IMG. The acquisition included all three pageants under the organization: Miss Universe, Miss USA and Miss Teen USA. Jakrajutatip, as the managing director and chief executive officer of JKN Global Group, notified the Stock Exchange of Thailand in writing that her company was unable to fully repay the principal and interest to the holders of JKN239A bonds on the stipulated maturity date of September 1, totaling THB609.98 million (P971.17 million).

“In the previous phase, the company considered various sources of funding. However, negotiations with relevant partners did not achieve the results the company expected,” Jakrajutatip wrote.

She also shared that JKN Global Group is ready to repay part of the principal amount of 146.61 million BATH (and interest of 9.98 million BATH, for a total amount of 156.6 million BATH on the maturity date, leaving an outstanding balance of 443.4 million BATH.

“To remedy this situation, the company has prepared a repayment plan for the JKN239A Bonds, which will be presented to the bondholders’ meeting scheduled for September 11 for approval,” the statement continued.

JKN Global Group's current financial situation has seen its share price plummet by more than 50% in two days, forcing Jakrajutatip and her sister Pimuma to sell nearly 100 million JKN shares worth more than 128.6 million THB. Anna Jakrajutatip remains the company's largest shareholder even after the sale, with a 38% stake.

When Jakrajutatip acquired MUO in October 2022, she laid out an ambitious business plan that involved maximizing brand value by restructuring the licensing system and venturing into outside businesses.

They recently launched the Miss Universe Drink in Bangkok, Thailand, with the reigning Miss USA R'Bonney Gabriel and several other delegates from the 2022 pageant. They also announced the creation of Miss Universe Skincare and Spa, with US-based Filipino skincare expert Olivia Quido-Co as President and CEO.

MUO has also announced a $7,650 “Hello Universe” tour package for the upcoming Miss Universe pageant in El Salvador. A seven-night stay in the South American host country includes tickets to key pageant events including the coronation night.

Source: https://danviet.vn/ba-trum-chuyen-gioi-hoa-hau-hoan-vu-vo-no-20230908133301511.htm