Approximately six months ago, Donald Trump found himself in a courtroom in lower Manhattan, where a jury declared him the first former President to be convicted of a crime.
Fast forward to Thursday (December 12, 2024), and he will be ringing the opening bell at the New York Stock Exchange just a few blocks away from that courthouse, all while being hailed as Time magazine’s ‘Person of the Year’.
This accolade for the ex-businessman-turned-politician marks another chapter in his complex relationship with New York. It also serves as a testament to Mr. Trump’s impressive resurgence from a shunned former President who refused to acknowledge his electoral defeat four years ago, to a President-elect who convincingly secured the White House in November.
Sam Jacobs, the editor in chief of Time, revealed on NBC‘s “Today” show that Mr. Trump had been chosen as the 2024 Person of the Year. Jacobs described him as someone who “for better or for worse, had the most influence on the news in 2024.”
“This is someone who made an historic comeback, who reshaped the American presidency and who’s reordering American politics,” Jacobs stated. “It’s hard to argue with the fact that the person who’s moving into the Oval Office is the most influential person in news.”
He further mentioned that there is always a lively debate within the magazine regarding the selection, but this year’s choice was relatively straightforward compared to previous years.
In an interview published on Thursday (December 12, 2024), Mr. Trump discussed his final campaign efforts and election victory.
“I called it ‘72 Days of Fury,” Mr. Trump remarked. “We hit the nerve of the country. The country was angry.”
Reports indicate that Mr. Trump will be present on Wall Street to participate in the ceremonial opening of the day’s trading, according to sources familiar with his plans who were not authorized to disclose the information publicly and spoke to The Associated Press on the condition of anonymity.
Mr. Trump was previously named Time‘s Person of the Year in 2016, when he was initially elected to the White House. This year, he was a finalist for the same award, competing alongside notable figures such as Vice President Kamala Harris, Tesla owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu, and Kate, the Princess of Wales.
The NYSE frequently invites celebrities and business figures to partake in the 9:30 a.m. ceremonial opening trading. Thursday (December 12, 2024) marks Mr. Trump’s inaugural participation in this tradition, which has become a symbolic representation of culture and politics.
Last year, Time CEO Jessica Sibley rang the NYSE opening bell to reveal the magazine’s 2023 Person of the Year: Taylor Swift.
During Mr. Trump’s initial term, his wife, Melania Trump, rang the bell to promote her “Be Best” initiative focusing on children’s well-being.
Donald Trump’s journey to New York from his residence in Florida to endorse capitalism in the financial hub of the city is just one of many visits he has made to various locations in the city this year.
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Aside from his mandatory court appearances downtown for his trial, Mr. Trump, known for his affinity for photo ops, held campaign events at various spots in the city: a firehouse, a bodega, and a construction site. He even organized a rally in the Bronx, among other locations where he garnered support during the election.
To cap off his campaign, he hosted a high-energy rally at Madison Square Garden, which drew criticism due to the offensive and incendiary remarks made by speakers.
Mr. Trump has always had a fascination with appearing on the cover of Time, where he first featured in 1989. He has erroneously claimed to hold the record for the most cover appearances, and reports surfaced in 2017 that he had a fake Time cover featuring himself displayed in several of his golf clubs.
Earlier this year, Mr. Trump participated in interviews with the magazine for a feature published in April. Time‘s billionaire owner, Salesforce CEO Marc Benioff, criticized Mr. Trump’s Democratic opponent, Vice President Kamala Harris, for not granting an interview to the magazine.
“Despite multiple requests, Time has not been granted an interview with Kamala Harris—unlike every other Presidential candidate,” Mr. Benioff stated in a post on X. “We believe in transparency and publish each interview in full. Why isn’t the Vice President engaging with the public on the same level?”
In his latest interview released on Thursday (December 12, 2024), Mr. Trump reiterated his intention to pardon most individuals convicted in connection with the U.S. Capitol riot on January 6, 2021. “It’s going to start in the first hour,” he stated regarding the pardons. “Maybe the first nine minutes.”
Throughout his career, Mr. Trump has cultivated an image as a wealthy real estate developer, leveraging this persona during his tenure as the star of the reality TV show “The Apprentice” and throughout his presidential campaign. His victory in the election was partly due to his ability to tap into the economic concerns of the middle class.
Following the November 5 election, the S&P 500 experienced a 2.5% surge, marking its best performance in nearly two years. The Dow Jones Industrial Average saw a spike of 1,508 points, or 3.6%, while the Nasdaq composite rose by 3%. All three indices surpassed previous records they had set in the weeks leading up to the election.
Mr. Trump, who often views the stock market as a barometer of public approval, has asserted that his upcoming presidential term should be dated from the day after the election to ensure he receives credit for the market gains.
His campaign pledges include commitments to achieve unprecedented levels of economic growth, with many of his incoming administration appointments coming from the business sector.
The broader business community has welcomed his proposals to lower corporate taxes and reduce regulations. However, there are apprehensions regarding his plans to implement extensive tariffs and potentially target companies that do not align with his political interests.
Historically, the U.S. stock market tends to rise regardless of which party wins the White House, with Democrats typically seeing larger average gains since 1945. Nonetheless, Republican control could lead to significant shifts in the industries that prosper or suffer beneath the surface, and investors are adjusting their strategies based on expectations of higher tariffs, lower tax rates, and decreased regulation favored by Mr. Trump.
Following his electoral victory, Mr. Trump’s legal team has sought to have his conviction in the Manhattan case overturned.
Published – December 12, 2024 07:44 pm IST
