A business magnate is an entrepreneur who has achieved wealth and prominence from a particular industry (or industries). Other, similar terms are czar, mogul, tycoon, baron, or oligarch.
The word magnate itself derives from the Latin word magnates (plural of magnas), meaning "great person" or "great nobleman."
The word tycoon is derived from the Japanese word taikun, which means "great lord," and it was used as a title for the shogun. 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 refers to the Mughal Empire (mughal being Persian or Arabic for "Mongol") of the Indian subcontinent that existed between 1526 and 1857: the early Mughal emperors claimed a heritage dating back to Mongol ruler Genghis Khan. The modern meaning of the word is supposedly derived from the storied riches of the Mughal emperors, who for example produced the Taj Mahal.
As the term industrialist (from Latin industria, "diligence, industriousness") was more widely used in the context of "old world" physical industries such as steel, oil, newspapers, shipping, and rail transport, it has largely been superseded by the other, more modern terms that encompass a wider range of virtual business and commercial activity.
Microsoft co-founder Bill Gates is a technology magnate consistently ranked in the top five of the most wealthy people in the world.
Such people are savvy businessmen that usually amass substantial fortunes in the process of running their business. Some are widely known in connection with their business(es) or through other pursuits such as philanthropy. The terms "mogul", "tycoon" and "baron" were often attributed 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, including steelmaking, banking, and newspaper publishing. This era was known as the Second Industrial Revolution or the Gilded Age.
Examples of well-known business magnates include Sir Richard Branson of Virgin Group, utility and transportation magnate Samuel Insull, newspaper magnate William Randolph Hearst of the Hearst Corporation, oil magnate John D. Rockefeller of Standard Oil, steel magnate Andrew Carnegie, automobile magnate Henry Ford, Lakshmi Mittal of Arcelor Mittal, poultry magnate Frank Perdue of Perdue Farms, shipping magnate Charles T. Hinde, automobile magnate Ferdinand Piëch of Volkswagen Group, telecommunications magnate Carlos Slim, and sports entertainment magnate Vince McMahon of WWE.
In Russia and some other post-Soviet states, the term "business oligarch" has become popular.
Top 10 Richest People in the World – 2012
2012 is another year for Carlos Slim and for the second time around, he got the title of the richest person in the world. He has a total net worth of $74 billion while still holding the position as a CEO and Chairman of Telmex, Grupo Carso, and America Movil. He was born and raised in Mexico City, Mexico, and he was exposed to business since he was 12 years old. Along with his siblings, his father has taught him business practices at that age.
Who would have thought that most of the people that we know and have made name in various businesses and industries succeeded the most, are the ones who failed at a young age. Bill Gates is one of them, who is known as a college drop out at Harvard University but a great investor and business magnate. He owns one of the most successful software companies in the world known as Microsoft, wherein he is the current Chairman carrying his current net worth is $56 billion.
Warren Buffet is also known as the Wizard of Omaha, Sage of Omaha, and Oracle of Omaha because of the contributions that he had done as a businessman, philanthropist, and an investor. He deserved this spot because of the efforts and time that he has allotted and exerted in his study at different universities. He received the title of the wealthiest person in 2008. His current net worth recorded is $50 billion.
He is the richest person in Europe and he bagged the 4th spot on this list for earning a net worth of $ 41 billion. He is born and raised in France and he is currently holding the post of a CEO and Chairman of LVMH and Chairman of Christian Dior SA. Aside from that, Forbes also recognized his strong fashion sense that allowed him to receive The Fashion Person in 2011.
5. Larry Ellison
He is one of the founders of Oracle Corporation, which is an enterprise software company. He is also the CEO of the corporation and he has ranked number 3 on the list of the wealthiest people in the United States. He may not have succeeded in his studies just like the one of the owners of Apple because of personal concerns that he had, like the death of his adoptive mother and his less interest in school, but when he went to study at the University of Chicago and had seen computer designs. It marked the time of his transition although he did drop from this university as well.
He is the richest man in India, United Kingdom, and Asia while ranking 6th on this list because of the current net worth recorded, which is $31.1 billion. He was born and raised in India but currently residing in London, United Kingdom. He is the CEO of Arcellor Mittal, director of Goldman Sachs, member of the Board of Directors of European Aeronautic Defence and Space Company, and has received various recognitions and citations from Forbes and other magazines.
He is the richest Spanish man that Forbes recently released where he has immersed himself in the field of fashion business along with his ex-wife. His current net worth is $31 billion and he is currently holding the position of a CEO of Inditex Group. He is very simple but he has set his heart in the business and he has manifested it when he was 14 years old.
He is the son of the prominent businessman named Eliezer Batista. He is really into trading because when he was 18 years old, he sells insurance policy using the door-to-door approach that has taught him the valuable lesson, more than what formal education could inculcate to him. He is currently the CEO of EBX Group and his total up-to-date earnings is $30 billion.
He is the son of the founder of the Reliance Industries, which is the late Dhirubhai Ambani.Mukesh Ambani is the Managing Director and Chairman of Reliance Industries and he has earned $27 billion that come from the petrochemicals, oil, and gas businesses. Aside from the wealthy heritage he received, he excelled a lot while he was still studying.
For the recent updates, Christy Walton and her family has earned $26.5 billion. Everyone is aware of the fact that the Walton Family owns the reputable and largest retailer store in the world, which is Walter Mart. In fact, she got the 6th spot for the wealthiest people in America, which was released by Forbes.
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