Musk Named Time Person Of The Year

Billionaire, entrepreneur, green energy pioneer, free-market advocate, Twitter troll. Elon Musk is all these things. Now, he is also Time Person of the Year.

Time Magazine named Elon Musk, the CEO of Tesla and SpaceX, the Person of the Year in 2021.


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“Person of the Year is a marker of influence, and few individuals have had more influence than Elon Musk on life on Earth, and potentially life off Earth too,” TIME editor-in-chief Edward Felsenthal wrote.

2021 was a great year for Musk. This year, the 50-year old billionaire from South Africa became the richest person in history.

According to the Bloomberg Billionaires Index, his net worth currently stands at $266 billion. In comparison, the world’s second-richest man, Amazon’s Jeff Bezos is worth “just” $198 billion.


“The richest man in the world does not own a house and has recently been selling off his fortune. He tosses satellites into orbit and harnesses the sun; he drives a car he created that uses no gas and barely needs a driver,” Time wrote.

Tesla Dominates EV Industry

Musk’s wealth is a direct result of the performance of his two major companies, Tesla and SpaceX. In 2021, Tesla became the most valuable carmaker in the world, reaching $1 trillion in valuation.

Due to sleek design, and spectacular marketing, Tesla managed to get people excited for EVs. Currently, Tesla makes up over 66% of all EVs sales in the U.S. However, Tesla’s market share is dropping, as its success draws other carmakers into the market.

“A few short years ago, Elon Musk was roundly mocked as a crazy con artist on the verge of going broke. Now he bends governments and industry to the force of his ambition,” Time wrote.

In its earlier stages, the company’s prospects were not great. Multiple short-sellers targeted Tesla and denounced Musk. However, they all buckled, facing huge losses as Tesla kept going up.

SpaceX And Humanity’s Dream Of Space Travel

At the same time, SpaceX helped push forward man’s dream of space exploration. The aerospace company completed the first all-civilian crew mission in space.

SpaceX, Musk said, was an expression of his dream to make humanity a multi-planet species. He hopes that Mars could become a second home for humanity.

Musk And Limited Government

However, Musk’s influence goes way beyond his companies and the markets. Musk is also vocal about his support of the private enterprise.

In 2020, he moved from California to Texas. In doing so he became one of the many tax refugees fleeing Big Government California. This year, Tesla did the same thing, moving its headquarters to Austin, Texas.

In a recent interview with WSJ, Musk spoke against higher taxes and big government.

“There’s all this anti-billionaire BS. If you zeroed out all the billionaires, you still wouldn’t solve the deficit,” he said.

He also argued for eliminating all EV subsidies.

“I’m literally saying get rid of all subsidies. The government should just try to get out of the way and not impede progress” he said.

He maintains that billionaires have a much better track record at managing capital than the government.

“It does not make sense to take the job of capital allocation away from people who have demonstrated great skill … and give it to an entity that has demonstrated very poor skill in capital allocation, which is the government,” he said.

Musk’s advocacy for private enterprise could have a noticeable effect on the U.S. political landscape. This is especially true for young people, among which Musk is particularly popular.

Musk The Troll

Musk breaks all the traditional rules of PR. He does not care about managing an artificial public persona.

In fact, he goes to the other extreme, rarely holding back anything. But this down-to-earth persona is probably one of the reasons for his popularity.

“With a flick of his finger, the stock market soars or swoons. An army of devotees hangs on his every utterance. He dreams of Mars as he bestrides Earth, square-jawed and indomitable. Lately, Elon Musk also likes to live-tweet his poops,” Time wrote.

Musk is an avid Twitter user and troll. He also has a taste for edgy and politically incorrect humor. This is why he often comes under attack by the left. However, he doesn’t seem to be care.

In fact, he used the weekend ahead of the Time article to post some memes on Twitter. Usually, he just shares whatever he finds funny and what others find funny. Intentionally or not, this just makes him more relatable.

Musk truly does have a devoted fanbase, which carries a huge effect on the markets. Any company (or crypto) he mentioned gets a momentary boost in price. Moreover, he is not afraid to use that power to have some fun.

This included pumping Dogecoin, a joke cryptocurrency. For some reason, Musk become obsessed with the Dog-themed crypto this year. His attention pushed Doge to the top 10 cryptos by market cap.

Just last week, he again showed his love for Shiba Inu, the dog breed featured in DogeCoin.

Love Him Or Hate Him, He Is What He Is

Musk’s awkward humor, as well as his genuine personality, are endearing to many. Despite his flaws, he still has a devoted fanbase. Moreover, even those that can’t stand him still pay attention to what he does.

However, his true power lies in the fact that he is working towards something that’s greater than himself. Be that in green tech or space exploration, his influence will remain for a long time.

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