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A business magnate is someone who has achieved great success and enormous wealth through the ownership of multiple lines of businesses. The term characteristically refers to a wealthy entrepreneur or investor who controls, through personal business ownership or dominant shareholding position, a firm or industry whose goods or services are widely consumed. Such individuals may also be dubbed czars , industrialists, moguls , proprietors, tycoons, taipans, barons , or oligarchs .[ citation needed ]
The word magnate derives from the Latin magnates (plural of magnas), meaning "a great man" or "great nobleman".
The word tycoon derives from the Japanese word taikun (大君), which means "great lord", used as a title for the shōgun . The word entered the English language in 1857 with the return of Commodore Perry to the United States. U.S. President Abraham Lincoln was humorously referred to as the Tycoon by his aides John Nicolay and John Hay. The term spread to the business community, where it has been used ever since.
The word mogul is an English corruption of mughal, Persian or Arabic for "Mongol". It alludes to emperors of the Mughal Empire in the Medieval India, who possessed great power and storied riches capable of producing wonders of opulence such as the Taj Mahal.
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 well-known business magnates in the western world include historical figures such as oilman John D. Rockefeller, automobile pioneer Henry Ford, 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, retail merchant Sam Walton, and banker J. P. Morgan. Contemporary industrial tycoons include e-commerce entrepreneur Jeff Bezos, investor Warren Buffett, computer programmer Bill Gates, technology innovator Steve Jobs, steel investor Lakshmi Mittal, telecommunications investor Carlos Slim, airline owner Sir Richard Branson, technology entrepreneur Elon Musk, Formula 1 manager Bernie Ecclestone, media entrepreneur Rupert Murdoch, and poultry technologist Frank Perdue.
Crony capitalism is an economic system in which businesses thrive not as a result of risk, but rather as a return on money amassed through a nexus between a business class and the political class. This is often achieved by using state power rather than competition in managing permits, government grants, tax breaks, or other forms of state intervention over resources where the state exercises monopolist control over public goods, for example, mining concessions for primary commodities or contracts for public works. Money is then made not merely by making a profit in the market, but through profiteering by rent seeking using this monopoly or oligopoly. Entrepreneurship and innovative practices which seek to reward risk are stifled since the value-added is little by crony businesses, as hardly anything of significant value is created by them, with transactions taking the form of trading. Crony capitalism spills over into the government, the politics, and the media, when this nexus distorts the economy and affects society to an extent it corrupts public-serving economic, political, and social ideals.
Mogul may refer to:
A media proprietor, media mogul or media tycoon refers to a successful entrepreneur or businessperson who controls, through personal ownership or via a dominant position in any media related company or enterprise, media consumed by many individuals. Those with significant control, ownership, and influence of a large company in the mass media may also be called a tycoon, baron, or business magnate. Social media creators and founders can also be considered media moguls.
A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, to pursue or promote a shared interest.
Mikhail Maratovich Fridman is a Russian business magnate. He also holds Israeli citizenship. He co-founded Alfa-Group, a multinational Russian conglomerate. According to Forbes, he was the seventh richest Russian as of 2017. In May 2017, he was also ranked as Russia's most important businessman by bne IntelliNews.
Claus Spreckels, formally Adolph Claus J. Spreckels, , was a major industrialist in Hawai'i during the kingdom, republican and territorial periods of the islands' history. He also involved himself in several California enterprises, most notably the company that bears his name, Spreckels Sugar Company.
In the late 19th century a captain of industry was a business leader whose means of amassing a personal fortune contributed positively to the country in some way. This may have been through increased productivity, expansion of markets, providing more jobs, or acts of philanthropy. This characterization contrasts with that of the robber baron, a business leader using political means to achieve personal ends.
Russian oligarchs are business oligarchs of the former Soviet republics who rapidly accumulated wealth during the era of Russian privatization in the aftermath of the dissolution of the Soviet Union in the 1990s. The failing Soviet state left the ownership of state assets contested, which allowed for informal deals with former USSR officials as a means to acquire state property. Historian Edward L. Keenan has drawn a comparison between the current Russian phenomenon of oligarchs and the system of powerful boyars which emerged in late-Medieval Muscovy.
Mikhail Dmitrievitch Prokhorov is a Russian billionaire, political activist, and former owner of the Brooklyn Nets. After graduating from the Moscow Finance Institute, he worked in the financial sector and subsequently went on to become one of Russia's leading industrialists, owning major stakes in multinational corporations in the precious metals sector. While he was running Norilsk Nickel, the company became the world's largest producer of nickel and palladium. He is the former chairman of Polyus Gold, Russia's largest gold producer, and the former President of Onexim Group. He resigned both positions to enter politics in June 2011.
"Robber baron" is a derogatory metaphor of social criticism originally applied to certain late 19th-century American businessmen who were accused of using unscrupulous methods to get rich, or expand their wealth.
Giannis Vardinogiannis is a Greek billionaire shipping magnate, the eldest son of petroleum tycoon Vardis Vardinogiannis. He is included in the Lloyd's List Most influential people in the shipping industry.
A tycoon is a business magnate, an entrepreneur of great influence or importance.
Business history is a historiographical field which examines the history of firms, business methods, government regulation and the effects of business on society. It also includes biographies of individual firms, executives, and entrepreneurs. It is related to economic history. It is distinct from "company history" which refers to official histories, usually funded by the company itself.
Jacob Little was an early 19th-century Wall Street investor and the first and one of the greatest speculators in the history of the stock market, known at the time as the "Great Bear of Wall Street". Little was born in Newburyport, Massachusetts, and moved to New York City in 1817, first clerking for Jacob Barker; he then opened his own establishment in 1822, and finally his own brokerage in 1834. A market pessimist, Little made his wealth "bearing stocks", at turns short selling various companies and at others cornering markets to extract profits from other short sellers. Through his great financial foresight Little amassed an enormous fortune, becoming one of the richest men in America and one of the leading financiers on Wall Street in the 1830s and 1840s, but his speculative activities irritated his peers and earned him few admirers. Little lost and remade his legendary fortune multiple times before losing it for good in 1857; although a great many owed him enormous debts, he was a generous creditor and never collected them, and at his deathbed in 1865 Little was penniless. Although well-known on the stock market in his time, he was quickly forgotten after his death, and today has been relegated to relative obscurity.
The Ukrainian oligarchs are a group of business oligarchs that emerged on the economic and political scene of Ukraine after the 1991 Ukrainian independence referendum. This period saw Ukraine transitioning to a market economy with the rapid privatization of state-owned assets. Those developments mirrored those of the neighbouring post-Soviet states after the dissolution of the Soviet Union. The influence of Ukrainian oligarchs on domestic and regional politics, particularly their links to Russia, have been the source of criticism from pro-Western sources critical of Ukraine’s lack of political reform or action against corruption.
The Nationalisation process in Pakistan was a policy measure programme in the economic history of Pakistan, first introduced, promulgated and implemented by Prime Minister Zulfikar Ali Bhutto and the Pakistan Peoples Party to lay the foundation of socialist economics reforms to improve the growth of national economy of Pakistan. Since the 1950s, the country had undergone a speedy industrialisation and became an industrial paradise in Asia. But, as time progressed, the labour trade unions and labour-working class had increasingly strained relations with the industrial business oligarch class, having neglected to improve working conditions and failing to provide a healthy and safe environment for the workers in these industrial industries.
Following the final collapse of the Mughal Empire in 1857 and the proclamation of the British Indian Empire, the British continued to maintain and recognise many of the old Mughal and Hindu styles and titles, introducing a compound honours system which awarded those titles along with British noble and aristocratic titles and knighthoods. Uniquely amongst the countries under British dominion, India was the sole country where British hereditary titles were conferred upon British subjects not of European ancestry. All British titles and honours became obsolete after the formation of the modern Republic of India in 1950, though they continue to be recognised by the British government.
Tan Sri Frank Tsao Wen-king was a Chinese-born entrepreneur who established shipping and textiles businesses in Hong Kong, Malaysia, Singapore and Thailand.
Origin of TYCOON Japanese taikun
First Known Use: 1857
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