About six months ago, Donald Trump was sitting in a courtroom in lower Manhattan listening to a jury make him the first former President convicted of a crime.
On Thursday (December 12, 2024), he will ring the opening bell at the New York Stock Exchange just blocks from that courthouse and as he was recognized by Time magazine as its ‘Person of the Year’.
The honors for the businessman-turned-politician represent the latest chapter in his love-hate relationship with New York. They’re also a measure of Mr. Trump’s remarkable comeback from an ostracized former President who refused to accept his election loss four years ago to a President-elect who won the White House decisively in November.
Sam Jacobs, Time‘s editor in chief, announced on NBC‘s “Today” show that Mr. Trump was Time’s 2024 Person of the Year. Jacobs said Mr. Trump was 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 said. “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 added that “there’s always a hot debate” at the magazine over the honor, “although I have to admit that this year was an easier decision than years past.”
In an interview with the magazine published Thursday (December 12, 2024), Mr. Trump spoke about his final campaign blitz and election win.
“I called it ‘72 Days of Fury,” Mr. Trump said. “We hit the nerve of the country. The country was angry.”
Mr. Trump is expected to be on Wall Street to mark the ceremonial start of the day’s trading, according to four people with knowledge of his plans who were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity.
Mr. Trump was also Time‘s Person of the Year in 2016, when he was first elected to the White House. He was listed as a finalist for this year’s award alongside notables including Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, the Princess of Wales.
The NYSE regularly invites celebrities and business leaders to participate in the 9:30 a.m. ceremonial opening trading. Thursday (December 12, 2024) will be Mr. Trump’s first time doing the honors, which have become a marker of culture and politics.
Last year, Time CEO Jessica Sibley rang the NYSE opening bell to unveil the magazine’s 2023 Person of the Year: Taylor Swift.
During Mr. Trump’s first term, his wife, Melania Trump, rang the bell to promote her “Be Best” initiative on children’s well-being.
Donald Trump’s trip to New York from his adopted home of Florida to sound the call of capitalism in the mecca of finance tops a string of visits that the former President has made to various spots in the city this year.
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Outside of his required presence in a downtown courthouse for his trial, Mr. Trump, who is always attuned to the art of a photo op, held campaign events around the city: at a firehouse, a bodega and a construction site. He also held a rally in the Bronx, among the places in the city where Mr. Trump made inroads during the election.
To mark the final stretch of his campaign, he held a high-octane rally at Madison Square Garden, which drew immediate blowback after speakers there made rude and racist insults and incendiary remarks.
Mr. Trump has long had a fascination with being on the cover of Time, where he first made an appearance in 1989. He has falsely claimed to hold the record for cover appearances, and The Washington Post reported in 2017 that Mr. Trump had a fake picture of himself on the cover of the magazine hanging in several of his golf country clubs.
Earlier this year, Mr. Trump sat for interviews with the magazine for a story that ran in April. Time’s billionaire owner, Salesforce CEO Marc Benioff, criticised Mr. Trump’s Democratic rival, Vice President Kamala Harris, for not granting the magazine an interview.
“Despite multiple requests, Time has not been granted an interview with Kamala Harris—unlike every other Presidential candidate,” Mr. Benioff said 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 published Thursday (December 12, 2024), Mr. Trump reiterated that he’s going to pardon most of those convicted in riot at the U.S. Capitol on January 6, 2021. “It’s going to start in the first hour,” he said of the pardons. “Maybe the first nine minutes.”
Mr. Trump crafted his image as a wealthy real estate developer, which he played up as the star of the TV reality show “The Apprentice” and during his presidential campaign. He won the election in part by channeling Americans’ anxieties about the economy’s ability to provide for the middle class.
After the November 5 election, the S&P 500 rallied 2.5% for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes topped records they had set in previous weeks.
Mr. Trump, who often regards the stock market as a measure of public support, has said his coming term as President should be dated to the day after the election so he is credited for the gains.
Mr. Trump’s campaign promises have included pledges to deliver historic levels of economic growth, and the people he’s selecting to fill out his incoming administration skew heavily from the business sector.
The larger business community has applauded his promises to reduce corporate taxes and cut regulations. But there are also concerns about his stated plans to impose broad tariffs and possibly target companies that he sees as not aligning with his own political interests.
The U.S. stock market has historically tended to rise regardless of which party wins the White House, with Democrats scoring bigger average gains since 1945. But Republican control could mean big shifts in the winning and losing industries underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Mr. Trump favors will mean.
In light of his election win, his lawyers have sought to have his conviction in the Manhattan case be thrown out.
Published – December 12, 2024 07:44 pm IST
