Business oligarch

Business oligarch is a near-synonym of the term "business magnate", with a divergence in that business oligarchs represent informal power over a certain region or country because of their increased wealth. The choice of the word oligarch, which theoretically means "one of the few rulers", denotes the significant influence such wealthy individuals may have on the life of a nation. The term was poorly used during the commercialization of United States of America in late 19th and early 20th centuries to describe those who applied their own rules to a region where the common law representatives were scarce (such as in some Western cities or in Alaska). Over time, the term went out of use. Today, this term generally denotes the fast-increased wealth of some businessmen of the former Soviet republics (mostly Russia and Ukraine). In these countries, it is very common to apply the word oligarch to any business tycoon, regardless of whether or not he or she has real political power.

Klappentext

Business oligarch is a near-synonym of the term "business magnate", with a divergence in that business oligarchs represent informal power over a certain region or country because of their increased wealth. The choice of the word oligarch, which theoretically means "one of the few rulers", denotes the significant influence such wealthy individuals may have on the life of a nation. The term was poorly used during the commercialization of United States of America in late 19th and early 20th centuries to describe those who applied their own rules to a region where the common law representatives were scarce (such as in some Western cities or in Alaska). Over time, the term went out of use. Today, this term generally denotes the fast-increased wealth of some businessmen of the former Soviet republics (mostly Russia and Ukraine). In these countries, it is very common to apply the word oligarch to any business tycoon, regardless of whether or not he or she has real political power.