• The Miss Universe 2025 finals are over a week away, but the pageant has been plagued by scandal.
• Contestants walked out after a Miss Universe director appeared to call Miss Mexico a “dumbhead.”
• Miss Chile apologized after posting a TikTok that showed her pretending to snort powder.

Miss Universe, the biggest pageant in the world, has found itself plagued with scandal again…and again…and again.

There’s been a surprise leadership change, a Miss Universe director yelling at a contestant on camera, racist remarks from a former winner — and that was just in the past week.

All the bad press has brought renewed international attention to a brand that came under fire just last year after former CEO Anne Jakrajutatip appeared to laugh at contestants’ photos on Instagram Live and praised one titleholder’s blond hair and blue eyes as “the best here.”

Jakrajutatip never addressed the criticism.

Miss USA 2023 Noelia Voigt summed up the controversy-fatigue that many fans have been feeling, writing in an Instagram statement on November 7: “The drama in the pageant world has been weighing heavy on the hearts of so many.”

Only time will tell if more drama will follow before the November 21 final. Until then, here’s everything that’s happened so far at the Miss Universe 2025 pageant.

Miss Universe announced a new CEO just days before the 2025 pageant began.

Jakrajutatip made history when she acquired the Miss Universe Organization for $20 million in October 2022, becoming the first woman to own the pageant since its inception in 1952.

During the Miss Universe 2023 competition, Jakrajutatip promised to usher in a new era for the “global women’s empowerment platform.”

“From now on, it’s going to be run by women, owned by a trans woman, for all women around the world,” she said.

That era didn’t last long. On October 29, Miss Universe announced that former diplomat Mario Búcaro was the new CEO. Jakjrajutatip had quietly stepped down in June.

Búcaro, previously Miss Universe’s vice president for international relations, now works alongside Raul Rocha, who became president after Jakrajutatip sold a 50% stake to his company in January 2024.

Jakrajutatip’s resignation comes amid financial issues at her company, JKN Global Group. After defaulting on a multimillion-dollar loan in September 2023, the company petitioned Thailand’s bankruptcy court. In June 2025, Thailand’s Securities and Exchange Commission alleged Jakrajutatip had included false or misleading information in JKN’s 2023 financial statements.

In the statement announcing Búcaro as CEO, the Miss Universe Organization said Jakrajutatip had stepped down to focus on her family. She has yet to make a public comment about her resignation or the SEC complaint.

Jakrajutatip did not respond to a request for comment from Business Insider.

The director of Miss Universe Thailand yelled at Miss Mexico, prompting contestants to walk out in protest.

During a November 4 meeting with the Miss Universe contestants, Nawat Itsaragrisil, who was recently named the director of Miss Thailand and host for the 74th Miss Universe competition in Bangkok, confronted Miss Mexico Fátima Bosch and accused her of not participating in a promotional event for the pageant.

In the exchange, which was captured on Miss Universe Thailand’s Facebook livestream, Itsaragrisil goes back and forth with Bosch as he criticizes the Miss Mexico team. The other Miss Universe contestants can be seen on the livestream, silently watching from their seats.

“If you listen to your director, you’re a dumbhead,” Itsaragrisil appears to tell Bosch during the livestream. He later told reporters that the word he had used was “damage.”

“I have a voice,” Bosch told Itsaragrisil after he told her, “I did not give you an opportunity to talk.”

“You are not respecting me as a woman,” she added.

Multiple Miss Universe contestants walked out of the room after Itsaragrisil, who also runs the Miss Grand International pageant, called for security to remove Bosch. The director demanded that the contestants return to their seats, saying: “If anyone wants to continue the contest, sit down.”

Bosch ultimately decided to stay in the competition, sharing her reason in an Instagram caption. “Mexicans don’t give up because giving up has never been part of our history,” she wrote on November 6.

Representatives for Bosch, Itsaragrisil, and the Miss Universe Organization did not respond to requests for comment.

Miss Universe 2024 Victoria Kjær Theilvig walked out with contestants in support of Bosch.

“To trash another girl is beyond disrespectful,” Theilvig can be heard saying in a clip reposted across Instagram and TikTok as the scandal broke.

“That’s why I’m putting on my coat and leaving,” she added.

Past winners from Miss Universe, Miss USA, and Miss Grand International — the pageant Itsaragrisil founded and still owns — also posted statements in support of Bosch.

“Since the beginning of this year’s Miss Universe competition, those of us on this side of the world have been waking up to ‘surprises’ every day — and today was no exception,” Miss Universe 2023 Sheynnis Palacios wrote on her Instagram story on November 4. “Some of the values that should guide Miss Universe — respect, dignity, gender equality, and transparency — are now being questioned.”

“A crown should never come at the cost of a woman’s dignity,” she added.

Voigt, who resigned her title in May 2024 due to the leadership of former Miss USA CEO Laylah Rose, said she was “shocked, disgusted, disappointed, and genuinely horrified” by the video.

“I understand what it feels like when your voice is dismissed and your dignity is demeaned,” Voigt wrote in a November 6 Instagram statement. “I spent years being a chronic people pleaser… but walking away from that fear, speaking up, reclaiming my dignity and my voice was the most liberating act I’ve ever taken.”

Miss Universe president Raul Rocha restricted Itsaragrisil from future Miss Universe 2025 events.

Rocha posted a video on the official Miss Universe Instagram on November 4 stating that he would not “allow the values of respect and dignity of women to be violated.”

“I have restricted Nawat’s participation in the events that are part of the 74th Miss Universe competition, limiting it as much as possible or eliminating it entirely,” he said.

Rocha added that Itsaragrisil’s decision to call security on Bosch was a “serious abuse,” and he accused the Miss Thailand director of having a “constant desire to be the center of attention.”

“The only ones who should shine are our delegates who represent each of their countries with dignity,” he added.

Itsaragrisil broke down in tears as he apologized while speaking to reporters on November 5.

Itsaragrisil apologized for the confrontation with Bosch a day later while giving a tearful press conference.

“This issue has dragged me down to this point. I understand and I apologize,” he added. “I am human. I didn’t want to do anything like that.”

A former Miss Universe winner made racist remarks following Itsaragrisil’s confrontation with Miss Mexico.

Miss Universe 1996 Alicia Machado was discussing the argument between Itsaragrisil and Bosch during a November 5 Instagram Live when she referred to him as Chinese. When a commenter pointed out that Itsaragrisil was of Thai descent, Machado said “everyone with slanted eyes” was Chinese to her. The Venezuelan beauty queen then pulled back the corners of her eyes on camera to demonstrate.

Machado’s comments prompted a response from Voigt, who made history as the first Venezuelan-American to win the Miss USA title.

Voigt said she was “deeply saddened and disappointed” by Machado’s comments, adding that many of her supporters had reached out and asked if she would stand up for the Asian community.

“The statements she made about Thailand, Thai people, and Asian communities were completely inappropriate, hurtful, and untrue,” Voigt wrote. “The world of pageantry is unique and passionate… but in recent days, the level of drama and negativity online has gone too far.”

Machado is no stranger to headlines since her Miss Universe days. The beauty queen became a central part of Hillary Clinton’s campaign in the last days of the 2016 election after the Democratic candidate said Donald Trump had called Machado “Miss Piggy” and “Miss Housekeeping” when he owned the Miss Universe pageant.

A spokesperson for Trump denied that he called Machado those names in a statement sent to The New York Times following the presidential debate.

Machado, Itsaragrisil, and Voigt did not respond to requests for comment.

Miss Chile apologized after her makeup video shocked pageant fans.

On November 6, Miss Chile Inna Moll posted a TikTok video that showed her pretending to snort a line of cocaine.

The clip, part of the “Addicted to You” trend, shows a makeup-free Moll dusting some white powder from a compact on her arm. She then leans down and pretends to snort the powder before the video cuts to her in full glam for a Miss Universe event.

Moll was quick to react to the criticism that followed as people began reposting her TikTok. She removed the clip from her page and posted an apology video to her Instagram stories the very next day.

“I want to apologize to those who were offended,” she said in the video, according to Hola!. “The makeup artist told me to record it and, maybe because of the language barrier, I didn’t fully grasp what was happening.”

“I said no at first, but he insisted, and I went along. I should have said no firmly,” Moll added.

Taratorn Aek, the makeup artist behind the video, posted an Instagram statement apologizing to Moll on the same day.

“What I did was thoughtless and without any hidden intent to harm the contestant or the country’s image,” he wrote. “It was merely a piece of content following a current online trend. I assure you that something like this will not happen again.”

While rumors swirled that Moll could be disqualified from the pageant, she remains in the competition and has been frequently featured on Miss Universe’s social media pages.

Moll, Aek, and the Miss Universe Organization did not respond to requests for comment.

• Renaissance Technologies has lost money in its two public funds for the year after a rough October.
• Quants started October on a losing streak but, on average, recovered by the end of the month.
• Early October felt similar to the summer troubles that stung many big-name quants.

October felt like summer for many quants — at first.

Last month started with one of the worst four-day trading periods on record for computer-run hedge funds, according to a Goldman Sachs client note, which said the average quant fund lost 1.8% through October’s first week.

For many quants, the painful start of October brought back memories of June and July, when systematic funds were slammed due to crowded trades, a momentum sell-off, and artificially inflated junk stocks.

Indeed, in the first week of October, Renaissance Technologies — the legendary quant firm founded by the late billionaire Jim Simons — had given away all of its gains on the year in its two biggest funds for external investors. According to HSBC’s Hedge Weekly report, the two funds finished the month in the red for the year.

Renaissance’s Institutional Equities fund was down more than 14% in October, and the strategy’s 2025 losses stand at 8.3%. The Diversified Alpha strategy lost more than 15% last month, putting its year-to-date losses at 10.5%.

Renaissance Technologies declined to comment.

Meanwhile, Paris-based Capital Fund Management’s two largest funds — Stratus and Discus — also lost money in October; the pair were down 1.3% and 2.9%, respectively, for the month, but still positive for the year at 6.5% and 1.2%, a person close to the firm told Business Insider.

Like this summer, the tides eventually turned in October for most funds. A Goldman note from the end of the month states that the last four days of trading in October were positive for quants, helping the average systematic fund finish the month flat.

Despite 2025’s choppiness, Goldman said, stock-trading quants are up 13% year-to-date.

Engineer’s Gate ended October slightly positive, gaining about 0.6%, putting its year-to-date gain at roughly 5.5%, two people familiar with the firm’s performance said. Qube’s flagship strategy was up 1.4% last month, according to a person close to the $34 billion London-based manager. The fund’s year-to-date figures are not known, and the firm declined to provide them.

Man Group’s Numeric Quantitative Alpha fund was flat for the month and is up more than 16% year-to-date. Marshall Wace’s TOPS fund reportedly returned 1.2% in October and has made close to 15% this year so far.

$9.4 billion Walleye’s quant portfolios were the biggest contributors to the firm’s 0.8% gain in October, the firm told investors in a monthly update, with “strength in Asia offsetting weakness in US exposures.”

• Apple launched Digital ID, letting users store their US passport in Apple Wallet.
• Digital ID works at TSA checkpoints in over 250 US airports.
• However, it doesn’t fully replace your physical passport.

Apple’s latest iPhone feature could save you from having to fumble for your passport while traveling.

The tech giant launched on Wednesday a way for iPhone and Apple Watch users to carry a virtual version of their US passport using information from the real thing. It can be used for domestic travel at TSA checkpoints at more than 250 US airports, the company said.

The new Digital ID feature in the latest version of iOS 26 adds passports to a range of government-issued IDs that can be included in the Apple Wallet. The iPhone maker touted the security and privacy of the feature.

“We’re excited to expand the ways users can store and present their identity — all with the security and privacy built into iPhone and Apple Watch,” Jennifer Bailey, vice president of Apple Pay and Apple Wallet, said in the news release.

Apple said Digital ID expands access to virtual versions of government IDs and could present an additional ID option for people without Real ID-compliant identification. It can also be used to book some flights or hotels.

However, this new feature doesn’t mean you should leave your physical passport at home. Digital ID can’t be used for international travel or crossing borders, Apple said.

However, for domestic travel, Digital ID allows you to carry your passport, boarding pass, and ID all in one place on your iPhone or Apple Watch.

Here’s how to set it up.

Grab your passport and open up Apple Wallet

Apple Wallet is where you store your debit or credit cards, transit cards, boarding passes, and more. Starting Wednesday, your Digital ID can be found under the Driver’s License and ID card tab.

Before setting up Digital ID, make sure you have your passport in hand. You’ll need the physical copy to create your virtual one.

You’ll find out more about what Digital ID can do

Once you’ve confirmed that you want to proceed, Apple will provide you with information about Digital ID. Then, it’s time to open your US passport to the photo page and scan it with your iPhone’s back camera.

Keep your passport open

Turn to the back of your passport book, and find the barcode. Don’t worry if you, like me, don’t know where to find this; Apple displays a helpful image to guide you. Your phone should read the chip embedded in your passport.

Get ready to take a few selfies

To verify your identity, Apple requires a clear image of your face from multiple angles. This means taking a still photo, plus doing a few movements to get a proper scan.

I had to close my eyes, tilt my head from side to side, and smile before the verification was complete.

Wait for the verification to process

Now that all of your selfies and scans are complete, your verification should be processing. No need for further action — Apple will let you know once it’s done.

For me, it took only one minute to go through. Then, I was all set to use my Digital ID next time I travel domestically.

• The US Mint produced the final penny on Wednesday.
• The coin costs almost $0.04 to make, and ending production will save more than $50 million annually.
• There are still around 300 billion pennies in circulation.

It’s a sad day for piggy banks everywhere. And 99-cent stores. And parents trying to teach their children the most basic idiom about frugality.

On Wednesday, the US Mint produced the final penny, ending the coin’s 232-year-old life. Treasurer of the United States Brandon Beach struck the last one-cent coin in Philadelphia, the US Mint said.

Born in Philadelphia in 1793, the penny had become a copper-coated emblem of government waste for some. The White House DOGE Office targeted the coin earlier this year, and politicians of both major parties have questioned its value. President Donald Trump criticized the penny in a Truth Social post in February.

The US Mint estimated that ending penny production will save $56 million in material costs every year, a spokesperson previously told Business Insider. Each $0.01 coin most recently cost almost $0.04 to produce, according to the US Mint.

Though production has ended, the US Mint said there are still around 300 billion pennies in circulation.

• For years, the pay TV business seemed to defy gravity.
• Even as people were flocking to the internet, cable TV subscriptions stayed in place.
• That’s no longer the case. The business has been eroding for a decade, and it just crossed a symbolic milestone.

You know that the cable TV industry is in steep decline.

You know it because of all the evidence around you. And you know it because we tell you about it over and over.

Still, sometimes you see a stat that helps put it all into even sharper perspective. Like this:

Fifteen years ago, nearly 9 in 10 US households had a pay TV subscription. By the end of 2025, that number will be down to five out of 10.

That estimate comes from Madison and Wall, the technology/media advisory firm. CEO Brian Wieser also helpfully shows what those stats — which include traditional pay TV providers like Comcast, and digital ones like YouTubeTV — look like in chart form:

(That 50.2% number is for Q3 of this year; Wieser thinks that should get down to 50% or lower by the end of December.)

Again, this is not news for people who invest in or operate media companies. It explains, for instance, why everyone from Comcast to Warner Bros. Discovery to A&E is trying to sell, spin off, or otherwise ditch most of their cable TV assets. (Larry and David Ellison’s Paramount, meanwhile, insists that it won’t spin off its cable channels, even while it acknowledges that “each quarter is accelerating decline.”)

It also has implications for advertisers, who stuck with TV for a long time, even when it became clear it was in decline, because that was a tried-and-true way of reaching a lot of people. No longer.

“Linear TV can still deliver high levels of reach and retains an outsized share of inventory, but higher levels of audience reach can be found elsewhere,” the Madison and Wall report published Tuesday notes. “As consumers migrate to streaming, endemic digital video, and even social video, those environments increasingly deliver similar awareness outcomes.”

As many TV executives, employees, and investors note, pay TV isn’t shutting down tomorrow — the business still makes money, even as it shrinks. Which reminds me a bit of my AOL’s dial-up internet business, which stuck around for many years after just about everyone had moved on to broadband.

AOL finally shut it down in September.

• Inference rolled out an open-science CEO named “Project AELLA.” The OnlyFans model Aella responded: “Lmfao.”
• Aella is a sex worker and Substack researcher whose theories have been praised by Marc Andreessen.
• CEO Sam Hogan changed the name and responded to Aella on X, “I didn’t know who you were until today.”

Inference CEO Sam Hogan announced the open-science initiative Project AELLA on Tuesday. Nine hours later, he changed it to Project OSSAS.

In the hours leading up to the change, Hogan learned that Aella wasn’t just the name of an “open-science initiative to make scientific research accessible via structured summaries created by LLMs,” as the company described it. It was also the name of a famous OnlyFans model, sex worker, and Substack researcher.

“Thank you to those who brought the context surrounding this name to our attention, and to our partners and the research community for their ongoing support,” Hogan wrote on X.

Aella reposted Hogan’s renaming: “Lmfao.”

In 2020, Aella was in the top 0.04% of OnlyFans creators in terms of monthly revenue generated, telling Business Insider that she made up to $100,000 a month. She is also an escort. On the “Dating Talk” podcast in February, Aella said that she charges $4,000 for the first hour, and then $1,000 for every additional hour.

Now, Aella makes most of her money through research, she said on the podcast. Aella launched the Substack “Knowingless,” which analyzes sex and relationships via data mining. Her approach has taken off within tech circles. Venture capitalist Marc Andreessen called one of her ideas “fantastic.”

The naming debacle sparked a broader conversation between Hogan and Aella.

“I didn’t know who you were until today,” Hogan wrote. “Now I do! Love your work.”

“Your work seems great too!” Aella responded. “I love ppl working on making science better.”

Hogan’s Inference closed an $11.8 million seed round in October, per PitchBook. The round was led by Multicoin Capital and Andreessen Horowitz.

On LinkedIn, Hogan described Inference as “the world’s largest GPU cluster for LLM inference.”

The exchange between Hogan and Aella seems to have ended with an opportunity for collaboration. “Would be cool to do visualizations for some of your surveys,” Hogan wrote. Aella responded: “I’d love that!”

There are also signs that the name change itself may be short-lived.

“After seeing your work I don’t think naming this project AELLA is crazy at all,” Hogan wrote. “If you’re open to it, could we have your blessing to change the name back?”

Aella responded that he was welcome to, though “it might be confusing/googleable issues for people tho.”

She suggested an alternative: “maybe some mild modification AELLA-B or something idk?”