Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

13 Dec 2021

Elon Musk Proclaimed by Time Magazine as the 2021 'Person of the Year'

The Index Today

Chief Executive Officer Elon Musk was proclaimed Time magazine's "Person of the Year" for 2021, a year that saw his electric car company become the most valuable carmaker in the world and his rocket company soar to the edge of space with an all-civilian crew. Time magazine mentioned that "The Person of the Year" signifies somebody "who affected the news or our lives the most, for better, or worse."

Musk is also the founder and CEO of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm The Boring Company. Tesla's market value increased to more than $1 trillion this year alone, making it more valuable than Ford Motor and General Motors combined.

The magazine's editor-in-chief, Edward Felsenthal, said that "For creating solutions to an existential crisis, for embodying the possibilities and the perils of the age of tech titans, for driving society's most daring and disruptive transformations, Elon Musk is TIME's 2021 Person of the Year."

"Even Elon Musk's spacefaring adventures are a direct line from the very first Person of the Year, Charles Lindbergh, whom the editors selected in 1927 to commemorate his historic first solo transatlantic airplane flight over the Atlantic."
From hosting Saturday Night Live to dropping tweets on cryptocurrencies and meme stocks that have triggered massive movements in their value, Musk has dominated the headlines and amassed over 66 million followers on Twitter.

Some of his tweets have also attracted regulatory scrutiny in the past.

Clay pottery with table linens