By CBSLA Staff

LOS ANGELES (CBSLA) — Elon Musk is adding another title to his name. He has been named Time Magazine’s “Person of the Year.”

Time described the Tesla and SpaceX CEO as a marker of influence who has impacted life on Earth and beyond.

This year Musk became the richest person in the world. His company also launched the first-ever all civilian mission to the Earth’s orbit.

Time has named a person of the year since 1927. The magazine picks someone who impacted a group, movement or idea over the past year.