The US President-elect Donald Trump is to be named the Time Person of the Year in 2024. He was awarded the title of Time Person of the Year in 2016 following his US presidential election win in 2016. He will also ring the New York Stock Exchange’s opening bell on Wall Street on Thursday. With his act of ringing the bell in NYSE, the official trading for the day will kickstart. Some people confirmed this to the Associated Press staying anonymous. They are not authorized to reveal the time person of the year and the ringing of the bell in NYSE. In this article, we will discuss Donald Trump and how presidential elections affected the NYSE.
Trump as the Time Person of the Year
Trump is a recognized businessman and politician and has often appeared on the cover of Time magazine. Donald Trump has always considered the stock market as a symbol of public acceptance. Donald Trump’s name was on the list of finalists for the Time Person of the Year award. Elon Musk, Kamala Haris, Benjamin Netanyahu and Princess of Wales, Kate were other famous personalities on the finalist list.
Time has not confirmed the Time Person of the Year yet. A spokesperson of the magazine has said to the public that Time won’t comment on its annual choice for the person of the year before the publication of the magazine.
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NYSE and the Ringing of the Bell
The ringing of the bell in NYSE represents Capitalist America. The successful businessman and politician Donald Trump is going to ring the bell in the NYSE for the first time in his life. Trump lived in New York for a long time in Trump Tower but after leaving the white house he started living in Florida.’
The New York Stock Exchange invites popular celebrities and leaders to conduct the ceremony of opening and closing of Trading. When Donald Trump was elected as the President for the first time, his wife Melania rang the bell of the New York Stock Exchange to open the trade. She rang the bell as a part of the promotion of her initiative Be Best. Be Best is an initiative by Melania that primarily focuses on children’s well-being. Last year in 2023, Jesicca Sibley The CEO of Time magazine rang the opening bell. Taylor Swift was declared as the Time Person of the Year when Jessica Sibley rang the bell of NYSE.
After the US presidential elections on November 5, the S&P hit 500 points which is a 2.5 percent surge after two years. The Dow Jones Industrial Average also increased to more than 1500 points which is 3.6 percent. And Nasdaq has surged to three percent.
The US stock markets have always surged after the presidential elections no matter which party won the elections. But when Democrats win in the election more increase in the stocks is seen when we analyze the stock data from 1945. But the surge in stock markets after the republic win shows the shifts in the minds of the investors.
Donald Trump and his Election Campaigns
Trump lived a major part of his life as a successful businessman and maintained his image as a rich real estate developer. He was also a famous TV celebrity as he appeared in the TV show The Apprentice. In the show, the contestants were eager to impress Donald Trump with their business skills. He also managed to win the US presidential elections by taking advantage of the insecurity and sentiments of middle-class American citizens.
The business personalities and communities have appreciated Donald Trump’s promises. He has said that he will reduce the taxes imposed on corporations. Donald Trump also promised to stop regulations imposed on businesses. However, some business communities are worried as Donald Trump has plans to impose tariffs on companies that are not performing according to his political interests. Chances are there as he may target some companies that don’t follow his plans and interests.
Donald Trump spends most time in Florida. But Trump is now in New York as he has a money trial in New York. His lawyers are working on the trial. They don’t want the case to be discussed during the time of elections. Trump was seen in New York in September as he had a meeting with Ukrainian President Volodymyr Zelenskyy at the end of the presidential election campaign. He held a rally at Madison Square Garden during his time in New York during the election Campaign.
History of Ringing Bell in NYSE
The first one to ring the bell was Leonard Ross. he was a ten-year-old boy. He got a chance to ring the bell as he won a quiz show. He answered questions about the stock market to win the quiz show.
Companies in The NYSE also rang the bell many times when the trading started. But then the act of ringing the bell became a phenomenon in American culture and politics. Nelson Mandela is another famous figure who rang the bell in the NYSE. Other celebrities who rang the bell were Sylvester Stallone, Robert Downey Jr., Jeremy Renner, Micheal Phelps, and Natalie Coughlin.
The first US president who rang the bell in NYSE was Ronald Regan in 1985. At that time Ronald Regan stated that With tax reform and budget control, the American economy would be free to expand to its full potential, driving bears back into permanent hibernation
Also read: Is Donald Trump A Fascist Threat To America?
Conclusion
In this article, we have discussed the time person of the year in 2024. The US President-elect Donald Trump will be named as the Time Person of the Year soon by Time Magazine. It is the second time that he is going to be selected as the Time Person of the Year. First, he was selected as the Time Person of the Year in 2016.
