The U.S. president-elect, Donald Trump has been appointed to ring the opening bell of the New York Stock Exchange (NYSE) on Thursday on the same day he is expected to be named Time magazine’s “Person of the Year”, according to two people familiar with the selection and plans.
Trump had built his fortune as a New York real estate investor before turning his sights to politics. During his first term as president, he measured his success partly by the strength of the US stock market, which has so far, welcomed his re-election if the rising stocks are any indication.
The ringing of the bell signifies the beginning or end of the trading day at the world’s largest stock exchange, and is considered an honor for whomever is selected to ring it.
The act has originally, been reserved for company executives celebrating an initial public offering or other major corporate milestones, but celebrities and politicians such as Ronald Reagan, Nelson Mandela and Arnold Schwarzenegger have also rung it.
Politico first reported the news of Trump’s selection and plans.
Time had bestowed the “Person of the Year” title to Trump once before, in 2016 but in 2020, it named Democratic President, Joe Biden and his Vice President Kamala Harris “Person of the Year” in 2020, after they defeated Trump.
Pop star sensation, Taylor Swift also received the title in 2023.
