According to TIME, someone becomes the ‘Person of the Year’ when they affect news and life in a positive or
negative way.

Elon Musk, founder of SpaceX and Tesla, was named “Person of the Year” by TIME magazine. In 2021, his electric
car company became the most valuable in the world, reaching the milestone of being valued at 1 billion dollars.

The billionaire also leads Neuralink , a company that seeks to implant chips in human brains by 2022, and the
infrastructure and miscellaneous products firm The Boring Company.
‘IFor creating solutions to an existential crisis, for embodying the possibilities and dangers of the era of technology
titans, for driving the most daring and disruptive transformations in society, Elon Musk is TIME ‘s Person of the Year
2021″, commented the magazine’s editor-in-chief, Edward Felsenthal, as reported by Reuters .