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{{Short description|Entrepreneur who has achieved wealth and prominence from a particular industry}}
{{Short description|Entrepreneur who has achieved wealth and prominence from a particular industry}}
{{Redirect-multi|2|Tycoon|Industrialist}}
{{Redirect-multi|2|Tycoon|Industrialist}}
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A '''business magnate''', also known as an '''industrialist''' or '''tycoon''', is a person who has achieved immense wealth through the creation or ownership of multiple lines of [[big business|enterprise]]. The term characteristically refers to a powerful [[entrepreneur]] and [[investor]] who controls, through personal enterprise ownership or a dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals have been known by different terms throughout history, such as [[Robber baron (industrialist)|robber barons]], [[Captain of industry|captains of industry]], moguls, [[Business oligarch|oligarchs]], [[plutocrats]], or [[tai-pan]]s.
A '''business magnate''', also known as an '''industrialist''' or '''tycoon''', is a person who has achieved immense wealth through the creation or ownership of multiple lines of [[big business|enterprise]]. The term characteristically refers to a powerful [[entrepreneur]] and [[investor]] who controls, through personal enterprise ownership or a dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals have been known by different terms throughout history, such as [[Robber baron (industrialist)|robber barons]], [[Captain of industry|captains of industry]], moguls, [[Business oligarch|oligarchs]], [[plutocrats]], or [[tai-pan]]s.


==Etymology==
==Etymology and history==
The term ''[[magnate]]'' derives from the [[Latin]] word ''magnates'' (plural of ''magnas''), meaning "great man" or "great nobleman".
The term ''[[magnate]]'' derives from the [[Latin]] word {{Lang|la|magnates}} (plural of ''{{Lang|la|magnas}}''), meaning "great man" or "great nobleman".


The term ''mogul'' is an English corruption of ''mughal'', Persian or Arabic for "Mongol". It alludes to emperors of the [[Mughal Empire]] in [[Medieval India]], who possessed great power and storied riches capable of producing wonders of opulence, such as the [[Taj Mahal]].
The term ''mogul'' is an English corruption of ''mughal'', Persian or Arabic for "Mongol". It alludes to emperors of the [[Mughal Empire]] in [[Early modern India|Early Modern India]], who possessed great power and storied riches capable of producing wonders of opulence, such as the [[Taj Mahal]].


The term ''tycoon'' derives from the [[Japanese language|Japanese]] word {{Nihongo|''[[taikun]]''|大君}}, which means "great lord", used as a title for the ''[[shōgun]]''.<ref>{{cite book |title=American English Spelling: An Informal Description |last=Cummings |first= Donald Wayne |year=1988 |publisher=JHU Press |isbn=978-0-8018-3443-1 |page=277 |url=https://books.google.com/books?id=1OVIqCV57pYC |access-date=22 May 2012}}</ref><ref>{{cite web |url=http://www.merriam-webster.com/dictionary/tycoon |title=tycoon |work=Merriam-Webster |access-date=22 May 2012 |quote=Origin of TYCOON Japanese taikun}}</ref> The word entered the English language in 1857<ref>{{cite web |url=http://www.merriam-webster.com/dictionary/tycoon |title=tycoon |work=Merriam-Webster |access-date=22 May 2012 |quote=First Known Use: 1857}}</ref> with the return of [[Matthew C. Perry|Commodore Perry]] to the United States. US President [[Abraham Lincoln]] was humorously referred to as ''the Tycoon'' by his aides [[John Nicolay]] and [[John Hay]].<ref>{{cite news |title=Return of the Samurai |first=Adam |last=Goodheart |url=http://opinionator.blogs.nytimes.com/2010/11/10/return-of-the-samurai/ |newspaper=The New York Times |date=10 November 2010 |access-date=22 May 2012}}</ref> The term spread to the business community, where it has been used ever since.
The term ''tycoon'' derives from the [[Japanese language|Japanese]] word {{Nihongo|''[[taikun]]''|大君}}, which means "great lord", used as a title for the ''[[shōgun]]''.<ref>{{cite book |title=American English Spelling: An Informal Description |last=Cummings |first= Donald Wayne |year=1988 |publisher=JHU Press |isbn=978-0-8018-3443-1 |page=277 |url=https://books.google.com/books?id=1OVIqCV57pYC |access-date=22 May 2012}}</ref><ref>{{cite web |url=http://www.merriam-webster.com/dictionary/tycoon |title=tycoon |work=Merriam-Webster |access-date=22 May 2012 |quote=Origin of TYCOON Japanese taikun}}</ref> The word entered the English language in 1857<ref>{{cite web |url=http://www.merriam-webster.com/dictionary/tycoon |title=tycoon |work=Merriam-Webster |access-date=22 May 2012 |quote=First Known Use: 1857}}</ref> with the return of [[Matthew C. Perry|Commodore Perry]] to the United States. US President [[Abraham Lincoln]] was humorously referred to as ''the Tycoon'' by his aides [[John Nicolay]] and [[John Hay]].<ref>{{cite news |title=Return of the Samurai |first=Adam |last=Goodheart |url=http://opinionator.blogs.nytimes.com/2010/11/10/return-of-the-samurai/ |newspaper=The New York Times |date=10 November 2010 |access-date=22 May 2012}}</ref> The term spread to the business community, where it has been used ever since.


==Usage==
==Usage==
{{Globalize|date=January 2024|2=US}}
Modern business magnates are entrepreneurs that amass on their own or wield substantial family fortunes in the process of building or running their own businesses. Some are widely known in connection with these entrepreneurial activities, others through highly-visible secondary pursuits such as [[philanthropy]], political fundraising and campaign financing, and sports team ownership or sponsorship.
Modern business magnates are entrepreneurs that amass on their own or wield substantial family fortunes in the process of building or running their own businesses. Some are widely known in connection with these entrepreneurial activities, others through highly-visible secondary pursuits such as [[philanthropy]], political fundraising and campaign financing, and sports team ownership or sponsorship.


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<!--Please discuss additions to the below list on the talk page so it does not become unwieldy-->
<!--Please discuss additions to the below list on the talk page so it does not become unwieldy-->
Examples of business magnates in the western world include historical figures such as oilmen [[John D. Rockefeller]] and [[Fred C. Koch]], automobile pioneer [[Henry Ford]], aviation pioneer [[Howard Hughes]], shipping and railroad veterans [[Aristotle Onassis]], [[Cornelius Vanderbilt]], [[Leland Stanford]], [[Jay Gould]] and [[James J. Hill]], steel innovator [[Andrew Carnegie]], newspaper publisher [[William Randolph Hearst]], poultry entrepreneur [[Arthur Perdue]], retail merchant [[Sam Walton]], and banker [[J. P. Morgan]]. Contemporary industrial tycoons include e-commerce entrepreneur [[Jeff Bezos]], investor [[Warren Buffett]], computer programmers [[Bill Gates]] and [[Paul Allen]], technology innovator [[Steve Jobs]], media proprietors [[Sumner Redstone]] and [[Rupert Murdoch]], industrial entrepreneur [[Elon Musk]], steel investor [[Lakshmi Mittal]], telecommunications investor [[Carlos Slim]], Virgin Group founder Sir [[Richard Branson]], Formula 1 executive [[Bernie Ecclestone]], and internet entrepreneurs [[Larry Page]] and [[Sergey Brin]].<!--Please discuss additions to the above list on the talk page so it does not become unwieldy-->
Examples of business magnates in the western world include historical figures such as pottery entrepreneur [[Josiah Wedgwood]], oilmen [[John D. Rockefeller]] and [[Fred C. Koch]], automobile pioneer [[Henry Ford]], aviation pioneer [[Howard Hughes]], shipping and railroad veterans [[Aristotle Onassis]], [[Cornelius Vanderbilt]], [[Leland Stanford]], [[Jay Gould]] and [[James J. Hill]], steel innovator [[Andrew Carnegie]], newspaper publisher [[William Randolph Hearst]], poultry entrepreneur [[Arthur Perdue]], retail merchant [[Sam Walton]], and bankers [[J. P. Morgan]] and [[Mayer Amschel Rothschild]]. Contemporary industrial tycoons include e-commerce entrepreneur [[Jeff Bezos]], investor [[Warren Buffett]], computer programmers [[Bill Gates]] and [[Paul Allen]], technology innovator [[Steve Jobs]], vacuum cleaner retailer Sir [[James Dyson]], media proprietors [[Sumner Redstone]] and [[Rupert Murdoch]], industrial entrepreneur [[Elon Musk]], steel investor [[Lakshmi Mittal]], telecommunications investor [[Carlos Slim]], Virgin Group founder Sir [[Richard Branson]], Formula 1 executive [[Bernie Ecclestone]], and internet entrepreneurs [[Larry Page]] and [[Sergey Brin]].<!--Please discuss additions to the above list on the talk page so it does not become unwieldy-->


== Business magnates ==
== Business magnates ==
<!--NOTE:Let's try and keep this list at no more than 24 pictures-->
<!--NOTE:Let's try and keep this list at no more than 24 pictures-->
<gallery mode="nolines" heights="200">
<gallery mode="nolines" heights="200">
File:Portrait of Josiah Wedgwood gupjg13 4 ics8nad.tiff|[[Josiah Wedgwood]]
File:Samuel Slater industrialist.jpg|[[Samuel Slater]]
File:Samuel Slater industrialist.jpg|[[Samuel Slater]]
File:James Finlayson (1771-1852).jpg|[[James Finlayson (industrialist)|James Finlayson]]
File:James Finlayson (1771-1852).jpg|[[James Finlayson (industrialist)|James Finlayson]]
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File:Sergey Brin cropped.jpg|[[Sergey Brin]]
File:Sergey Brin cropped.jpg|[[Sergey Brin]]
File:Mark Zuckerberg F8 2019 Keynote (32830578717) (cropped).jpg|[[Mark Zuckerberg]]
File:Mark Zuckerberg F8 2019 Keynote (32830578717) (cropped).jpg|[[Mark Zuckerberg]]
[[File:Ratan-Tata-1.jpg|thumb]]
</gallery>
</gallery>


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* [[Media proprietor]]
* [[Media proprietor]]
* [[Real estate investing]]
* [[Real estate investing]]
* [[Robber baron (industrialist)|Robber baron]]
* [[Software industry]]
* [[Software industry]]
* ''[[The World's Billionaires]]''
* ''[[The World's Billionaires]]''
*[[Russian oligarchs]], the term for Russian business magnates


==References==
==References==

Latest revision as of 15:54, 21 June 2024

"Tycoon" and "Industrialist" redirect here. For other uses, see Tycoon (disambiguation) and Industrialist (disambiguation).
For magnates in the mass media industry, see Media proprietor.

A business magnate, also known as an industrialist or tycoon, is a person who has achieved immense wealth through the creation or ownership of multiple lines of enterprise. The term characteristically refers to a powerful entrepreneur and investor who controls, through personal enterprise ownership or a dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals have been known by different terms throughout history, such as robber barons, captains of industry, moguls, oligarchs, plutocrats, or tai-pans.

Etymology and history

[edit]

The term magnate derives from the Latin word magnates (plural of magnas), meaning "great man" or "great nobleman".

The term mogul is an English corruption of mughal, Persian or Arabic for "Mongol". It alludes to emperors of the Mughal Empire in Early Modern India, who possessed great power and storied riches capable of producing wonders of opulence, such as the Taj Mahal.

The term tycoon derives from the Japanese word taikun (大君), which means "great lord", used as a title for the shōgun.[1][2] The word entered the English language in 1857[3] with the return of Commodore Perry to the United States. US President Abraham Lincoln was humorously referred to as the Tycoon by his aides John Nicolay and John Hay.[4] The term spread to the business community, where it has been used ever since.

Usage

[edit]

Modern business magnates are entrepreneurs that amass on their own or wield substantial family fortunes in the process of building or running their own businesses. Some are widely known in connection with these entrepreneurial activities, others through highly-visible secondary pursuits such as philanthropy, political fundraising and campaign financing, and sports team ownership or sponsorship.

The terms mogul, tycoon, and baron were often applied to late-19th- and early-20th-century North American business magnates in extractive industries such as mining, logging and petroleum, transportation fields such as shipping and railroads, manufacturing such as automaking and steelmaking, in banking, as well as newspaper publishing. Their dominance was known as the Second Industrial Revolution, the Gilded Age, or the Robber Baron Era.

Examples of business magnates in the western world include historical figures such as pottery entrepreneur Josiah Wedgwood, oilmen John D. Rockefeller and Fred C. Koch, automobile pioneer Henry Ford, aviation pioneer Howard Hughes, shipping and railroad veterans Aristotle Onassis, Cornelius Vanderbilt, Leland Stanford, Jay Gould and James J. Hill, steel innovator Andrew Carnegie, newspaper publisher William Randolph Hearst, poultry entrepreneur Arthur Perdue, retail merchant Sam Walton, and bankers J. P. Morgan and Mayer Amschel Rothschild. Contemporary industrial tycoons include e-commerce entrepreneur Jeff Bezos, investor Warren Buffett, computer programmers Bill Gates and Paul Allen, technology innovator Steve Jobs, vacuum cleaner retailer Sir James Dyson, media proprietors Sumner Redstone and Rupert Murdoch, industrial entrepreneur Elon Musk, steel investor Lakshmi Mittal, telecommunications investor Carlos Slim, Virgin Group founder Sir Richard Branson, Formula 1 executive Bernie Ecclestone, and internet entrepreneurs Larry Page and Sergey Brin.

Business magnates

[edit]

See also

[edit]

References

[edit]
  1. ^ Cummings, Donald Wayne (1988). American English Spelling: An Informal Description. JHU Press. p. 277. ISBN 978-0-8018-3443-1. Retrieved 22 May 2012.
  2. ^ "tycoon". Merriam-Webster. Retrieved 22 May 2012. Origin of TYCOON Japanese taikun
  3. ^ "tycoon". Merriam-Webster. Retrieved 22 May 2012. First Known Use: 1857
  4. ^ Goodheart, Adam (10 November 2010). "Return of the Samurai". The New York Times. Retrieved 22 May 2012.
[edit]
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