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Business magnate

From Academic Kids

A business magnate, sometimes referred to as a mogul or a tycoon, is a person who controls a large portion of a particular industry and whose wealth derives primarily from said control.

Examples of well-known business magnates include newspaper magnate William Randolph Hearst of the Hearst Corporation, oil magnate John D. Rockefeller of Standard Oil and steel magnate Andrew Carnegie of US Steel.

In Russia and some other post-Soviet the term "business oligarch" became popular.

Etymology

The word tycoon is derived from the Japanese word taikun (大君 taikun), a word of Chinese origin. The literal meaning is "great lord" and was historically used to imply to foreigners visiting Japan that the Shogun was supreme ruler of the country.

The word mogul originally meant Mongol, or person of Mongolian descent. In this context, it refers to the Mughal Empire (mughal is the Indo-Aryan spelling of mogul) of India that existed between 1526-1857. The early emperors of Mughal claimed themselves descendants of Mongol ruler Genghis Khan and adopted a Mongolian identity. The modern meaning of the word is supposedly derived from the excessive riches of the Mughal emperors, which for example produced the Taj Mahal.

Notable magnates

See also


es:Magnate

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