Donald Trump should be named Times Person of the Year

NEW YORK (AP) Donald Trump used his image as a successful New York businessman to become a celebrity, a reality TV star and eventually president. He will now be able to revel in one of the city's most visible symbols of success when he rings the opening bell at the New York Stock Exchange on Thursday, as he is also named Time's Person of the Year Magazine.

Trump is expected to be on Wall Street to mark the start of the negotiating ceremony, according to four people with knowledge of his plans. He will also be announced Thursday as The Times' 2024 Person of the Year, according to a person familiar with the selection. The people who confirmed the stock appearance and the Time Award were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity.

It will be a remarkable moment of dual recognition for Trump, a born-and-bred New Yorker who has sometimes treated the stock market as a measure of public approval and who has long valued indicators of his success in New York's business world and his appearances on the covers of magazines including Time.

Trump was named the magazine's Person of the Year in 2016, when he was first elected to the White House. He was previously a finalist for this year's award alongside Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, Princess of Wales.

Time was unable to confirm the selection before Thursday morning's announcement.

Time does not comment on its annual Person of the Year selection before publication, a magazine spokesperson said Wednesday.

The ringing of the bell is a powerful symbol of American capitalism and a good photo opportunity in New York. Despite his decades as a New York businessman, Trump has never done this before.

It was unclear whether Trump, a Republican, would meet with New York's embattled mayor, Democrat Eric Adams, who has been supportive of Trump and has not ruled out switching political parties. Adams was charged with federal corruption crimes and accused of selling influence to foreign nationals; he has denied any wrongdoing.

Trump himself was once a symbol of New York, but he gave up living full-time in his namesake's Trump Tower in Manhattan and moved to Florida after leaving the White House.

CNN first reported Trump's visit to the stock market on Wednesday, and Politico reported that Trump is expected to be unveiled as the Times' Person of the Year.

The Stock Exchange regularly invites celebrities and business leaders to participate in market opening and closing ceremonies. During Trump's first term, his wife, Melania Trump, sounded off to promote his Be Best initiative on children's well-being.

Last year, Time CEO Jessica Sibley rang the opening bell to reveal the magazine's 2023 Person of the Year: Taylor Swift.

After the November 5 election, the S&P 500 rose 2.5%, its best day in nearly two years. The Dow Jones Industrial Average jumped 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes surpassed the records they had set in recent weeks.

The U.S. stock market has historically tended to rise regardless of which party wins the White House, with Democrats seeing larger average gains since 1945. But Republican control could mean big changes in which sectors win and lose, and the Investors are increasing their bets. built earlier on what the higher tariffs, lower tax rates and regulatory relief favored by Trump will mean.

Trump has long courted the business world because of his own status as a wealthy real estate developer who gained additional fame as the star of the TV show The Apprentice in which his competitors tried to impress him with their business skills. He won the election in part by exploiting Americans' deep concerns about an economy that seemed incapable of meeting the needs of the middle class.

The broader business community applauded his promises to cut corporate taxes and reduce regulation. But there are also concerns about his stated intention to impose sweeping tariffs and possibly target companies he sees as not aligning with his own political interests.

Trump spends most of his time at his Florida home, but he was in New York for weeks this spring during his secret trial. He was convicted, but his lawyers are pushing for the case to be dismissed in light of his election.

While spending hours each day in a Manhattan courthouse during his criminal trial, Trump took his presidential campaign to the streets of the overwhelmingly Democratic city, holding a rally in the Bronx and visiting venues intended to working class New York: a bodega, a construction site and a fire station.

Trump returned to the city in September to meet with Ukrainian President Volodymyr Zelenskyy at his Manhattan tower and again in the latter part of the presidential campaign when he held a rally at Madison Square Garden that immediately drew backlash when speakers uttered crude, racist and inflammatory insults. Remarks.

At the stock market, ringing bells has been a tradition since the 1800s. The first guest to do so was a 10-year-old boy named Leonard Ross, in 1956, who won a quiz by answering questions about the stock market.

Many times, publicly traded companies would ring the bell at 9:30 a.m. to commemorate their initial offers at the start of negotiations. But appearances have become an important marker of culture and politics — something Trump hopes to capture by promising historic levels of economic growth.

Anti-apartheid activist and South African President Nelson Mandela rang the bell, as did Hollywood star Sylvester Stallone and his comrades from The Expendables. The same goes for actors Robert Downey Jr. and Jeremy Renner for an Avengers film and Olympians Michael Phelps and Natalie Coughlin.

In 1985, Ronald Reagan became the first sitting U.S. president to ring the bell.

With tax reform and budget control, our economy will be free to grow to its full potential, returning the bears to permanent hibernation, Reagan said at the time. We were going to free the bull.

The crowd of traders on the floor chanted “Ronnie! »Ronnie! Ronnie!

The Dow Jones Industrial Average rose in 1985 and 1986, but suffered a decline in October 1987 in an event known as Black Monday.

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Long reported in Washington. Associated Press writer Josh Boak in Washington contributed to this report.

Copyright 2024 The Associated Press. All rights reserved.

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