Time Magazine's Person of the Year 2021 is Tesla and SpaceX's CEO, Elon Musk.
Elon Musk as Person of The Year
"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," Time editor-in-chief Edward Felsenthal wrote.
In 2021, Elon Musk became not only the world's richest person but also the richest example of a huge transition in our society, as stated by Time Editor-in-Chief and CEO Edward Felsenthal.
Musk's rise is part of a larger trend in which he and his fellow tech billionaires are both a cause and an effect: the continued fall of old institutions in favor of people; political dysfunction that has given individuals more power and responsibility.
Elon Musk's Company
Elon Musk made his fortune in a different way than the majority of today's well-known billionaires. He didn't have just one brilliant idea; he had dozens. Instead of one of the many smart, safe bets, he opted for a handful of breathtakingly dangerous bets.
As reported by Time, his first company is named Zip 2, an online business directory that he founded with his brother Kimbal. The company was valued at $ 307 million and sold in 1999; Musk reportedly pocketed $ 22 million.
The second company was the online payment platform Paypal. This was formerly known as X.com and later on named Paypal; which was sold to eBay in 2002.
The third company known is the electric vehicle manufacturer Tesla, which know is one of the leading electric vehicles all over the globe and is now valued at $1.02 trillion.
Fourth is Elon Musk's aerospace company, SpaceX, founded in 2002.
Both Tesla and SpaceX are some of the most popular companies leading in their respective industries, and both are founded by Musk
Elon Musk on SpaceX
Musk launched SpaceX in 2002 with the apparently absurd goal of populating Mars.
SpaceX had a rocky start in its early years, according to Musk, who says he used almost all of the funds from the PayPal sale to fund the company.
The company has had a string of botched launches, nearly putting the company out of business.
Musk's investments eventually began to pay off. NASA favored SpaceX a contract worth $1.6 billion in 2008.
According to SpaceX's October investment round, which valued the company at over $100 billion.
Elon Musk's Tweet
Time Magazine also recognized the ability of Elon Musk when it comes to stirring up controversy on social media with his ability to rock markets with the power of a single tweet.
Musk's cryptocurrency tweets have had a significant impact not just on Bitcoin, but also in Metaverse and on other cryptocurrencies.
As reported by Vox, Musk's tweets about cryptocurrency are not intentionally for his own financial gain, however, they hold the utmost significance and impact on bitcoin investors.
They also raise concerns about the stability of a market that is so quickly affected, especially as retail investors rush to cryptocurrencies in greater numbers.
Coinbase, a cryptocurrency exchange, became the first major cryptocurrency startup to go public in the United States in April, signaling the mainstreaming of blockchain-based currencies such as Bitcoin, Ethereum, and Dogecoin.
Recently, Musk tweeted on December 10 without further explanation that he's thinking about leaving his job to become a full-time influencer.
thinking of quitting my jobs & becoming an influencer full-time wdyt
— Elon Musk (@elonmusk) December 10, 2021
