Time magazine’s ‘Person of the Year’ award goes to…

Elon Musk – the founder and chief executive of Tesla Inc (NASDAQ: TSLA) secured the top position this year on the list of the richest people on Earth, and Time says there was hardly anyone nearly as influential in 2021 as Elon Musk.  

Editor-in-chief Edward Felsenthal’s remarks

On Monday, the American magazine named Elon Musk its Person of the Year, owing to his leadership that turned Tesla into a trillion-dollar company in 2021. Commenting on the decision, Edward Felsenthal, CEO and editor-in-chief at Time, said:

Person of the Year is a marker of influence, and few individuals have had more influence than Musk on life on Earth, and potentially life off Earth too. In 2021, Musk emerged not just the world’s richest person but also as perhaps the richest example of a massive shift in our society.

The news comes almost a month after Wedbush Securities’ Dan Ives said Tesla had the potential to claim more than half of the $5.0 trillion EV auto market. He upgraded the stock to “buy” and raised his price target to the street high of $1,400 that represents a 40% upside from here.

Musk’s achievements go well beyond Tesla

Elon Musk’s legacy, however, is not limited to Tesla only. Musk also founded SpaceX in 2002 – a California-based aerospace manufacturer and space transportation company whose Falcon 9 rocket launched 50 satellites to orbit for Starlink megaconstellation earlier this month.

The ultimate goal of SpaceX is to establish a permanent human presence on Mars. Also on Thursday, Time announced gymnast Simon Biles its Athlete of the Year, Olivia Rodrigo its Entertainer of the Year, and “vaccine scientists and the miracle of mRNA” the Heroes of the Year.

Time’s announcement had no impact on the TSLA that still opened about 2.0% down on Monday.