Miss Universe has become the new Miss Stake.

Victoria has let her secret come out. Bud Light signed a deal with UFC. And now Miss Universe has finally learned that when you go woke, you end up broke.

Trump bought the Miss Universe Organization in 1996 and ran it until 2015. And since then, I guess you can say that the pageant has been going nuts, specifically in the last three years.

In 2021, we probably saw the “wokest” pageant ever. In 2022, a man bought the organization. This year, we have at least two males competing for spots that were once rightfully reserved for women.

Question: are we not mad about the patriarchy stealing opportunities from women anymore? It’s hard to keep up these days.

Anyway, it turns out that things don’t go as well as planned when a delusional man is in charge of things.

In a not-so-surprising development, JKN Global Group, the Thai firm that bought the Miss Universe Organization, has filed for bankruptcy right before the 2023 event this Saturday.

Last year, JKN Global Group purchased the Miss Universe Organization for $20 million. CEO Anne Jakapong Jakrajutatip is a middle-aged man who pretends to be a woman and promised to make the organization more inclusive by stealing titles away from women who have been dreaming of this moment their whole lives.

But anything for diversity, right?

“Trans women are women, full stop,” the Miss Universe Organization told CNN last month, following Miss Portugal’s crowning.

Full stop, trans women are not women but it seems that maybe it will take more than a bankruptcy for them to admit that one.

“We are here to celebrate women, full stop. This has been true for more than a decade, and we’re proud to have made this change very early on, compared to other programs.”

Full stop, how can you celebrate women by allowing men to lie, cheat, and steal from them?

This year's pageant will feature 88 women and two male contestants: Marina Machete, representing Portugal, and Rikkie Valerie Kolle, representing the Netherlands. If either candidate wins, they will become the first man to wear the tiara.

The price of JKN’s shares has fallen 80% over the last year, according to the BBC, and the company missed a $12 million payment in Sept.

On Thursday, JKN submitted a petition for "business rehabilitation" to a bankruptcy court in Thailand, claiming that it had a "liquidity problem."

"In response to the recent news, JKN Global Group has recently announced its strategic corporate financial management plan to cope with the current financial situation. We are confident that the new plan will support all of the company's business operations, including Miss Universe," a statement on the JKN website read.

The pageant is still set to take place on Saturday in El Salvador, according to the statement.

At this point, doubling down on wokeness is just corporate suicide because when you play woke games, you get woke prices. And it turns out, that pandering to the demographic that demands this insanity take over the competition was not enough to keep the company afloat.