A business magnate, sometimes referred to as a baron, industrialist, magnate, mogul, or tycoon, is a slightly informal term used to refer to an entrepreneur who helped create or who have dominated their industries.
The word tycoon has its origin in the Japanese title Nihonkoku taikun, or the "Sovereign Lord of Japan," used to refer to the Japanese shogun in the pre-modern diplomatic dialogues between Korea and Japan. The term first came into use in 1635 to substitute descriptions that were offensive either to the Koreans or to the Japanese. For example, the title "King of Japan" for the shogun was disagreeable to the Japanese because it implied that Japan was subservient to the Chinese emperor as a part of the sinocentric world order.
- Hawley, 2005. pp. 574