Donald Trump named Time magazine's Person Of The Year

Donald Trump has been named Time magazine's Person Of The Year.

The US president-elect beat a number of other high-profile people who were also on the shortlist, including the Princess of Wales and Elon Musk.

The 78-year-old business mogul was also Time's Person Of The Year in 2016 - the year he first won the White House.

Mr Trump, who survived two assassination attempts earlier this year, celebrated the US publication's accolade by ringing the opening bell at the New York Stock Exchange.

He described it as "a tremendous honour... getting this honour for the second time, I think I like it better this time actually."

He later told CNBC: "We're going to be cutting taxes still further," specifically corporate taxes adding that "a lot of incentives are going to be given".

He also suggested he would intervene in ongoing conflicts: "We have to conclude a couple of bad wars that are going on, a lot of bad things are going on, but we'll get them done."

He has been nominating people for his forthcoming administration after winning the popular vote in last month's election and claiming all seven swing states.

His second election win is "history-making in multiple ways", Time said when it announced the shortlist.

Mr Trump will be the "oldest president in US history", entering office for the second time in January at the age of 78 years and seven months. When Joe Biden began his term in 2021, he was 78 years and two months old.

Mr Trump will also be the "first convicted felon to be elected president", Time said, referring to his conviction for falsifying business records to commit election fraud.

Time also interviewed Mr Trump in November in which he spoke about his election victory, the economy, Ukraine and the Middle East.

"Putin would have never invaded Ukraine if I were president," he said, also disagreeing with the West relaxing restrictions on the use of long-range missiles.

"I disagree very vehemently with sending missiles hundreds of miles into Russia. Why are we doing that? We're just escalating this war and making it worse," he added.

But on negotiating a peace deal Mr Trump said: "I want to reach an agreement, and the only way you're going to reach an agreement is not to abandon [Ukraine]."

And when asked about conflict in the Middle East, he said: "The Middle East is going to get solved. I think it's more complicated than the Russia-Ukraine, but I think it's easier to solve", without discussing specific policy.

Others on Time's 10-person shortlist included the Princess of Wales, who has been undergoing cancer treatment.

She "stirred a conversation about privacy and health for public figures", Time said.

Kate has now returned to public duties, including attending her annual Christmas carol service with her family at Westminster Abbey.

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Musk - the billionaire behind Tesla and SpaceX - has "long been an innovative disrupter", Time said on its shortlist.

He has also become politically active, supporting Mr Trump in his bid to retain the White House, and spending more than a quarter of a billion dollars in the process.

Also on the shortlist was Yulia Navalnaya, whose husband, the Russian opposition leader Alexei Navalny, died in February.

And Israeli Prime Minister Benjamin Netanyahu, podcaster Joe Rogan and Facebook founder Mark Zuckerberg.

(c) Sky News 2024: Donald Trump named Time magazine's Person Of The Year