Business magnate

Source: Wikipedia, the free encyclopedia.
"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 is 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.

Etymology and history

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,

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

John Nicolay and John Hay.[4]
The term spread to the business community, where it has been used ever since.

Usage

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

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, Ted Turner 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

See also

References

  1. 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.
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