The Miss Universe Extravaganza last 7 November was the first event of the Miss Universe Organization under the new ownership of Thai company JKN Global Group PCL.

The event held at the Siam Pavalai Royal Grand Theatre, Paragon Cineplex, in Bangkok, Thailand gathered together former Miss Universe winners — Natalie Glebova of Canada (2005), Leila Lopes of Angola (2011), Catriona Gray of the Philippines (2018) and Andrea Meza of Mexico (2020) — and the reigning queen, Harnaaz Sandhu of India for the first time. Also in attendance were former Miss Universe Thailand winners and runners-up.

Very notable was the presence of Miss Universe Spain 2018 Angela Ponce, who arrived with her boyfriend, Victor Ortega, Mister Malaga 2021 Second Finalist. Ponce's participation in the 2018 pageant in the Philippines is a big milestone for Miss Universe as well as for LGBTQ+ representation. She became the first openly transgender contestant to compete at Miss Universe and most likely in an international beauty pageant aside from trans pageant.

There have been progress in LGBTQ+ representation in pageants in recent years with several openly lesbian and bisexual contestants proudly competing. Model Jenna Taclova fought a legal battle to be able to compete in Miss Universe Canada, 2012, becoming the first trans candidate in a Miss Universe franchise. Miss Nevada, Kataluna Enriquez, became the first openly transgender candidate of Miss USA in 2021. After Ponce, another trans woman competed at an international pageant, Arielle Keil, who represented New Zealand at the 2021 Miss Intercontinental.

During Miss Universe Extravaganza, Anne Jakapong Jakrajutatip, founder and chief executive officer of JKN Global Group and herself a trans woman, joined Ponce onstage to pay homage to Ponce for breaking barriers and to emphasize that Miss Universe advocates gender equality.

After the event, Ponce posted a photo of her and Jakrajutatip on her Instagram account (angelaponceofficial) and wrote: "Muchas gracias, querida
@annejkn.official, por inivitarme a #jknmissuniverseextravanganza, for hacer parte de esta nueva era de @missuniverse y por hacerme sentir en familia siempre (Thank you, dear @annejkn.official, for inivitng me to #jknmissuniverseextravanganza, for making me part of this new era of @missuniverse and for making me feel like family at all times)."

"Tus valores son nuestra esperanza, hermana. Siempre tendras mi mano (Your values are our hope, sister. You will always have my hand)," she added.

Last October, 43-year-old Jakrajutatip, a Thai billionaire and business mogul, acquired MUO from IMG, becoming the first woman and non-American to own the company, which was previously owned by former United States President Donald Trump before becoming under IMG, in its 71-year history. With Amy Emmerich as chief executive officer and Paula Shugart as president, the top ranks of MUO are now helmed by women.

LGBTQ+ groups and individuals around the world celebrated this news.Filipino activist and Miss Trans Global 2020 Mela Franco Habijan exclaimed: "Trans leaders are power!"

Fashion journalist C. Mendez Legaspi said, "Trans is beautiful," and enumerated recent achievements by transgender persons including Filipino-American Ceci Balagot's inclusion in Monster High; Jamie Clayton playing Pinhead in the 2022 reboot of Hellraiser; Laith Ashley playing Taylor Swift's love interest in the "Midnights" music video; and Kim Petras scoring a number-one spot for "Unholy" at the Billboard Hot 100 with Sam Smith.

"As the pioneer LGBT Chamber of Commerce in Asia, we champion business excellence, and celebrate the accomplishments and contributions of LGBTQIA+ people to the economy," wrote Philippine LGBT Chamber of Commerce on their Facebook page. "Sending our heartfelt congratulations to Jakapong Anne Jakrajutatip, a Thai trans woman, CEO of JKN Global group, who just made history as the first woman in 71 years to own the Miss Universe Organization."

"To our Transgender siblings, and to the rest of the LGBTQIA+ people, let us continue celebrating the contribution of Transgender people to Asian business excellence with pride!" the organization added.

With a trans woman on top of Miss Universe, many believe that there will be stronger support and acceptance of LGBTQ+, particularly trans, candidates in Miss Universe.