The Strategist

Miss Universe beauty pageant put up for sale due to unprofitability

09/05/2022 - 11:24

The Miss Universe international pageant, which Ari Emanuel, founder of the Endeavor agency, has been controlling since 2015, is up for sale, according to the New York Post. The publication's sources note that Emanuel has been trying to sell the lot for six months but has been unsuccessful.

The billionaire is attempting to sell the company for around $20 million, according to the NYP's source. Before his presidential run in 2015, Emanuel acquired the Miss Universe beauty pageant's rights from billionaire Donald Trump. The price of the agreement was not made public, but the newspaper, citing financial documents from Trump's election campaign, claims that it may have ranged from $5 million to $25 million in value.

According to a person acquainted with the organization's finances, which also manages the Miss USA and Young Miss USA pageants, the pageant loses $2 million annually. The article claims that Emanuel has made an effort to entice foreign investors from South America and Asia, and he has frequently been encouraged to cut the price in order to close the unproductive operation as quickly as feasible. However, the businessman is not aiming to diminish the value of the lot.

In 1952, the first Miss Universe competition took place. Donald Trump purchased the company's rights in 1996. The pageant's economic issues, according to NYP's source, started in 2020 after the corporation was forced to postpone the event due to a pandemic.