Warning: Spoilers for The Lord of the Rings: The Rings of Power episodes 1 and 2.The Lord of the Rings: The Rings of Power is already setting the stage for Elrond to establish Rivendell and take his place as the iconic location’s ruler. Amazon’s sweeping adaptation of J.R.R. Tolkien’s work is slated to cover almost the entirety of Middle-earth’s Second Age, although it’s still unclear how much the show will overlap with flashbacks used in Peter Jackson’s The Lord of the Rings and The Hobbit film trilogies. Whether the show revisits monumental moments like Isildur keeping the One Ring for himself instead of destroying it on Mount Doom could impact how far certain storylines go, and that certainly includes Elrond's (Robert Aramayo) story arc.
Elrond is an important figure across both the Second and Third Ages, so it makes sense he is one of The Lord of the Rings: The Rings of Power main characters. By the end of the second episode, Elrond has already set the wheels in motion for the Elves and Dwarves to join forces and build the forge that will eventually produce the titular Rings of Power. The Lord of the Rings: The Rings of Power also sets something else up with some of Elrond's scenes.
The Lord of the Rings: The Rings of Power episode 1 teases Rivendell's establishment via conversations Elrond has with Galadriel (Morffyd Clark) and King Gil-galad (Benjamin Walker). It was already almost a sure thing Rivendell would get depicted in some way in The Lord of the Rings: The Rings of Power; Rivendell is one of the most important locations in Middle-earth history, and that was further compounded by the film trilogies. Regardless of where the show ends Elrond's story, it would be unfathomable if Rivendell were omitted entirely.
When Does Elrond Become Lord Of Rivendell?
When Elrond and Galadriel reunite in The Lord of the Rings: The Rings of Power episode 1 after Galadriel's failed attempt at tracking down Sauron, Elrond tries to sway the conversation away from "official matters" because he already knows what Galadriel is going to ask for. In response, she turns to him and says, "Why Elrond... you really have become a politician." At this point during the Second Age, Elrond is still an up-and-comer in Elven politics, and he's neither the seasoned leader nor warrior he eventually becomes. Galadriel may say he's quite the politician now, and she's being a little sarcastic, but Elrond is destined for greatness sooner than either of them can know at this time.
Later on, Elrond consults with King Gil-galad and is conflicted over tricking Galadriel into attending a ceremony where she’s basically honorably discharged and ordered to go into the light at Valinor. King Gil-galad offers some sage advice, advising, "Such is the burden of those who lead... and those who would seek to." It’s likely that is foreshadowing Elrond becoming Lord of Rivendell in the Second Age during the War of the Elves and Sauron shortly after the Rings of Power are forged. The only question is whether Elrond's story ends there or if The Lord of the Rings: The Rings of Power orders him to Mordor's Barad-dûr to fight Sauron's army at the end of the Second Age.