Elon Musk was named Time magazine’s Person of the Year for the year in which his electric-vehicle startup, Tesla, grew to a $1 trillion company and Musk became the world’s richest man.
Elon Musk, the CEO of Tesla, has been named Time magazine’s Person of the Year for the year 2021. Musk’s achievement comes after a year in which his electric car manufacturing company became the most valuable carmaker in the world, and his personal wealth skyrocketed, making him the world’s richest person.
“For creating solutions to an existential crisis, for embodying the possibilities and perils of the age of tech titans, for driving society’s most daring and disruptive transformations, Elon Musk is TIME’s 2021 Person of the Year,” said Edward Felsenthal, Editor-in-Chief of Time magazine, who made the announcement today.
Elon Musk, the founder and CEO of SpaceX as well as the CEO of Neuralink, a brain-chip startup, and The Boring Company, an infrastructure firm, has now joined the elite group that includes Facebook CEO Mark Zuckerberg and Amazon founder Jeff Bezos. Time magazine named US President Joe Biden and Vice President Kamala Harris Persons of the Year last year.
“Even Elon Musk’s space explorations are a direct line from the first Person of the Year, Charles Lindbergh, who was chosen by the editors in 1927 to commemorate his historic first solo transatlantic aeroplane flight over the Atlantic,” Felsenthal added.
This year, the auto industry has seen a bull market for Tesla. The electric vehicle manufacturer’s market value soared to more than $1 trillion, surpassing Ford Motor and General Motors combined.
Elon Musk reacted quickly to the Time magazine’s acknowledgement of his achievements. “Our intent with Tesla was always that we would serve as an example to the car industry, and hope that they would also make electric cars so that we can accelerate the transition to sustainable energy,” Musk said in an interview released with the Person of the Year announcement.
Tesla, the world’s largest electric car manufacturer, has its primary markets in the United States, China, and Europe. It also intends to enter India with its. models in the near future. Tesla’s meteoric rise has aided other legacy carmakers in shifting their focus and switching to electric vehicle production to some extent.