NEW YORK — Donald Trump, leveraging his persona as a prominent New York business figure, has transitioned into a celebrated celebrity, a reality TV icon, and eventually, the presidency. This Thursday, he will have the opportunity to bask in one of the most prominent indicators of success in the Big Apple when he ceremonially rings the opening bell at the New York Stock Exchange, coinciding with his recognition as Time Magazine’s Person of the Year for 2024.
Expected to make a notable appearance on Wall Street, Trump is set to initiate the trading day, as confirmed by several unnamed sources acquainted with his plans. In addition, he will be named Time’s 2024 Person of the Year. These insiders were not authorized to disclose this information publicly, prompting their anonymity. This dual recognition promises to be a significant moment for Trump, who has often related the stock market to public sentiment and has always valued signs of accomplishment in New York’s competitive business environment as well as his prominence on magazine covers, particularly that of Time.
In 2016, Trump was first awarded the title of Person of the Year after winning the presidency. He had already been named a finalist for this year’s honor, competing against figures like Vice President Kamala Harris, Elon Musk, Israeli Prime Minister Benjamin Netanyahu, and Kate, the Princess of Wales. Time declined to confirm this year’s selection prior to the announcement, citing its policy on annual awards.
Ringing the bell symbolizes the power of U.S. capitalism and offers an important photo opportunity in New York. Despite years in the business spotlight, this will mark Trump’s first time participating in this tradition. It remains uncertain if Trump, representing the Republican Party, will meet with New York’s current mayor, Democrat Eric Adams, who has shown a willingness to engage with Trump amidst his own political controversies, including accusations of corruption, which he denies.
Trump, once an emblem of New York, has transitioned his permanent residence to Florida after leaving office. Reports about his planned stock exchange visit emerged earlier from news outlets, indicating that he would be honored as Time’s Person of the Year. The New York Stock Exchange frequently invites various public figures and industry leaders for these ceremonial openings and closings. During Trump’s first term, his wife, Melania Trump, rang the bell to promote her “Be Best” campaign aimed at improving child well-being.
Last year, Time’s CEO Jessica Sibley rang the bell in honor of Taylor Swift, the magazine’s Person of the Year for 2023. After the elections in the U.S., significant market movements were observed, including a 2.5% rally in the S&P 500—the best performance seen in nearly two years—and a substantial surge in the Dow Jones Industrial Average. Historically, the U.S. stock market has tended to rise irrespective of the presidential party in power, with Democrats typically achieving higher average gains since 1945; however, Republican leadership could influence prevailing trends in various industries.
Trump has actively engaged the business sector, leveraging his background as a wealthy real estate mogul and reality television personality, winning elections by resonating with voters’ economic anxieties. While the business community has welcomed his tax reduction promises, concerns linger regarding his plans to implement tariffs and take action against companies that do not align with his political agenda.
Though Trump spends most of his time in Florida, he has returned to New York several times, particularly during legal proceedings earlier this year. Despite being found guilty in a hush money case, his legal team is seeking to have this ruling overturned while he continues his presidential campaign. During his recent visits, he has engaged with working-class communities in the city, highlighting his familiarity with New York’s environment.
The stock exchange bell ringing tradition dates back to the 1800s. The first guest to ring it was a 10-year-old boy who won a quiz show about the stock market in 1956. Typically, newly listed companies participate in this ceremonial act at the start of trading. However, these moments have evolved into significant cultural and political markers that Trump aims to capitalize on, as he promotes his economic growth agenda.
Prominent figures in history, including South African President Nelson Mandela and actor Sylvester Stallone, have participated in this bell-ringing tradition, which has included appearances from celebrities linked to blockbuster films and Olympic athletes. Ronald Reagan made history as the first sitting president to ring the bell in 1985, during which he discussed tax reform and its potential to foster economic growth, energizing the trading floor crowd.
In the years following Reagan’s presidency, the stock market showed fluctuations, including a notable crash in 1987, referred to as “Black Monday.” The upcoming ceremonial event at the stock exchange symbolizes not only a personal milestone for Trump but also the intertwining of politics and economic prosperity in the heart of New York.