Time's naming of Mr. Trump as “Person of the Year” recognizes the president-elect as the individual considered to have the greatest influence on global issues.
To celebrate being named "Person of the Year," Trump will ring the opening bell at the New York Stock Exchange, according to CNN. Trump gave an in-depth interview with Time magazine last month.
Time magazine named Mr. Trump "Person of the Year" in 2016 after he was elected to his first term as US president.
Over the decades, Time magazine's "Person of the Year" title has been awarded to a wide range of figures, from heads of state to activists to businessmen.
Every US president since Franklin Delano Roosevelt, except Gerald Ford, has been named "Person of the Year" at least once.
President Joe Biden and Vice President Kamala Harris were jointly honored after defeating Mr Trump in the 2020 US presidential election.
Last December, pop star Taylor Swift was named Time's 2023 "Person of the Year."
Members of Mr Trump's family, including Ivanka Trump, are expected to attend the December 12 event when Mr Trump will be named "Person of the Year", a source familiar with the matter said.
This is a rare public appearance for the president-elect's daughter. Ivanka Trump served as a senior adviser during Mr. Trump's first term.
