Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020. Tesla Inc. will be added to the S&P 500 Index in one shot on Dec. 21, a move that will ripple through the entire market as money managers adjust their portfolios to make room for shares of the $538 billion company. Image: Bloomberg “Even if Tesla were somehow to collapse next year... Musk would have transformed one of the world’s most important industries in ways that could have profound implications for governments, investors - and for the climate,” the FT wrote.
The title of person of the year is often reserved for world leaders but occasionally awarded to businesspeople. Previous winners of the FT’s award include Donald Trump, former German chancellor Angela Merkel and former Goldman Sachs Inc. boss Lloyd Blankfein.
Musk earlier this year surpassed Jeff Bezos to become the world’s richest man. In October, Tesla became one of just a few companies to hit the $1 trillion valuation mark. His other major company, SpaceX, has become a go-to launch provider for NASA, and inspired other startup rocket companies across the world.
© 2021 Bloomberg L.P.
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