For more than seven decades, the Miss Universe Organization has stood as one of the world’s most recognizable beauty pageants. Behind its glamorous crowns and global broadcasts, however, lies a history shaped by corporate deals, media strategies, and shifting visions of entertainment. As the organization once again faces scrutiny amid recent ownership changes, its past shows that transition has always been central to its story.

The Miss Universe pageant was born in 1952 not from pageantry, but from a business dispute. Pacific Knitting Mills, the California-based company behind Catalina Swimwear, created both Miss Universe and Miss USA after Miss America 1951 Yolande Betbeze declined to pose in its swimwear. Seeking a new promotional platform, the company staged the first Miss Universe competition in Long Beach, California, laying the groundwork for what would become a global franchise.

By the end of the 1950s, the pageant entered its first major transition. Pacific Knitting Mills sold the brand in 1959, ushering in a long corporate era under Kayser-Roth Corporation and later Gulf+Western Industries. Lasting until 1990, this period saw Miss Universe expand its international footprint and establish itself as a staple of global television.

In the early 1990s, consumer goods giant Procter & Gamble took control of the organization. From 1991 to 1996, P&G oversaw the pageant as part of its broader marketing and media interests, reinforcing its commercial viability before another high-profile shift reshaped its public image.

That shift came in 1996, when real estate developer Donald Trump acquired the organization. Under his ownership, Miss Universe entered a highly visible era marked by branding, spectacle, and a partnership with NBCUniversal. Trump’s tenure lasted nearly two decades and ended in 2015, when he bought out NBC’s stake and later sold the organization entirely.

Later that same year, the pageant was acquired by Endeavor, then operating under WME/IMG. From 2015 to 2022, the agency positioned Miss Universe within its live events and media portfolio, emphasizing modernization, licensing, and international relevance.

In October 2022, ownership shifted to Asia when JKN Global Group, led by Thai media executive Anne Jakrajutatip, acquired the organization. The purchase marked a historic milestone, making Jakrajutatip the first woman and first transgender owner of the Miss Universe pageant. Her leadership introduced a renewed focus on inclusivity, advocacy, and global storytelling.

The most recent transition came in early 2024, when JKN Global Group sold a 50 percent stake to Legacy Holding Group USA Inc., the American arm of the Mexican-led Legacy Holding Group headed by Raúl Rocha Cantú. The organization now operates as a joint venture under JKN Legacy Inc., blending Jakrajutatip’s vision with Rocha Cantú’s business leadership.