Elon Musk named ‘Person of the Year 2021’ by Time magazine

Tesla Chief Executive Officer Elon Musk has been named Person of the Year for 2021 by Time magazine.

The announcement comes following a remarkable growth of Tesla in 2021, where it became the most vulnerable car company in the world. Also Musk became the wealthiest person in the world this year with a net worth around $300 billion.

Tesla’s market value jumped to $1 trillion and became the first ever car company in the world to surpass a trillion mark.

Making the announcement today, Edward Felsenthal, Editor-in-Chief of Time magazine, said, “For creating solutions to an existential crisis, for embodying the possibilities and the 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.”

The magazine also mentioned Musk’s other projects and companies such as SpaceX which aims to send people to lunar surface by 2025. He also leads brain-chip start-up Neuralink and infrastructure firm The Boring Company.

“Our intent with Tesla was always that we would serve as an example to the car industry, and hope that they also make electric cars so that we can accelerate the transition to sustainable energy.” Said Elon Musk during an interview for Time following the announcement.

Last year, US President Joe Biden and Vice President Kamala Harris were named as the Person of the Year by Time magazine.

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