Time magazine on Monday named Tesla chief and space entrepreneur Elon Musk as its person of the year, citing his embodiment of the technological shifts but also troubling trends reshaping people’s lives.

Musk — who overtook Amazon founder Jeff Bezos this year to become the world’s wealthiest person — wields impact on Earth with his Tesla electric car company and beyond our planet with his SpaceX rockets.

“Musk’s rise coincides with broader trends of which he and his fellow technology magnates are part cause and part effect,” Time editor-in-chief Edward Felsenthal wrote.