Time has named billionaire tech mogul Elon Musk as the "Person of the Year" for 2021.

Time published its annual "Person of the Year" expose early Monday morning, which included a lengthy expose and interview with the founder of Tesla and SpaceX.

Time named Musk the world's most influential person in a year that saw an explosion of private space flight.

Musk may not have traveled outside of the Earth's atmosphere in 2021 like colleagues Jeff Bezos and Richard Branson, but his company, SpaceX, broke ground by becoming the first private company to shuttle astronauts to the International Space Station.

Musk has also been a pioneer in the burgeoning business of electric vehicles. Tesla has grown into one of the world's most valuable companies with a market share of over $1 trillion. A recent bill signed into law offers more funding for electric vehicle charging stations, which could potentially expand Tesla's reach.

Musk also made headlines in 2021 for his at times bizarre use of social media, which sent the price of his companies' stock and various cryptocurrencies careening up and down on a financial roller coaster ride.

To top it all off, Musk also ventured into the world of entertainment in 2021 by hosting an episode of Saturday Night Live.

In addition to unveiling its Person of the Year on Monday, Time also named musician Olivia Rodrigo "Entertainer of the Year" and named Simone Biles as "Athlete of the Year." Vaccine scientists were collectively named the 2021 "Heroes of the Year."

Musk follows in the footsteps of 2020 People of the Year Joe Biden and Kamala Harris and 2019 Person of the Year Greta Thunberg.

TIME has revealed its annual list of the 100 most influential people in the world.

The issue features celebrities, politicians, and public figures, including the Duke and Duchess of Sussex, Vice President Kamala Harris, and fashion designer Aurora James.

The Duke and Duchess of Sussex are featured on one of seven different covers for the annual issue.

Prince Harry and Meghan garnered attention throughout the year with their sit-down interview with Oprah Winfrey which they detailed what their lives were like as part of Britain's royal institution.

They also announced earlier this year that they would no longer work as members of the British royal family.

Other stars who coveted the covers include NVIDIA CEO Jensen Huang, Olympic gymnast Simone Biles, writer Cathy Park Hong, actor Kate Winslet, singer Billie Eilish, and Director-general of the World Trade Organization Ngozi Okonjo-Iweala.