The Tycoon name is given to a successful person with wealth, especially when he has succeeded in his field. It is like saying he is the master of his craft, the very best there is because he knows what he is doing.
I heard the word "tycoon" is generated from an old Japanese word that means "great lord".
They basically make use of the word to describe someone that is successful in his or her field, like the successful business tycoon. It is a good word and it describes something successful.
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