President-elect Donald Trump was expected to ring the New York Stock Exchange opening bell on Thursday morning to celebrate the unveiling of the cover of Time magazine's Person of the Year edition.

Three sources familiar with the plans reportedly told Politico that Trump would be named Time's 2024 Person of the Year. He previously secured the title in 2016 following his first presidential election victory against Hillary Clinton.

'The individual who, for better or for worse, did the most to shape the world and the headlines over the past 12 months.'

Despite being a native New Yorker, Trump has never participated in the tradition of ringing the opening bell to commence trading, a practice dating back to the 1800s.

Melania Trump had that honor in September 2019 during her "Be Best" White House initiative on children's well-being.

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

Last year, Time CEO Jessica Sibley performed the ceremony following Taylor Swift's selection as Person of the Year.

Thirteen other presidents, including President Joe Biden, have also been designated with Time's recognition.

On Thursday morning, Trump was greeted by chants of "USA!" as he waited to ring the New York Stock Exchange bell. He was joined by Vice President-elect JD Vance, his wife, Melania, and daughters, Ivanka and Tiffany.

On Monday, NBC's "The Today Show" revealed Time's shortlist for Person of the Year, which included Trump, Vice President Kamala Harris, Kate Middleton, Elon Musk, and Benjamin Netanyahu.

However, a Time article on this year's selection of Trump noted that it was not a difficult choice.

"Since he began running for President in 2015, perhaps no single individual has played a larger role in changing the course of politics and history than Trump," Time wrote.

Time explained the reason for its decision.

"For 97 years, the editors of Time have been picking the Person of the Year: the individual who, for better or for worse, did the most to shape the world and the headlines over the past 12 months," it read.

WNBA star Caitlin Clark was selected as Time's Athlete of the Year, Elton John as Icon of the Year, and Lisa Su of Advanced Micro Devices as CEO of the Year.

This year's cover was revealed on Time's website along with an article that referred to Trump as "the world's most powerful man."

Despite selecting him for the honor, the article still accused him of attempting to "overturn the 2020 election results culminating in the attack on the U.S. Capitol."

"Trump has proved twice now that he can surf to power on anti-incumbent sentiment, a cult of personality, and divisive rhetoric, including racist and xenophobic attacks," it read.

The Associated Press reported that it is unclear whether Trump has plans to meet with New York City Mayor Eric Adams (D) while he is there. However, Adams is slated to meet with Trump's incoming border czar, Tom Homan.

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