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"powerful person," 1670s, from Great Mogul, Mongol emperor of India after the conquest of 1520s, from Persian and Arabic mughal, mughul, alteration of Mongol (q.v.), the Asiatic people.
"elevation on a ski slope," 1961, probably [Barnhart] from Scandinavian (cf. dialectal Norwegian mugje, fem. muga, "a heap, a mound"), or [OED] from southern German dialect mugel in the same sense.
Note: The name “mogul” is sometimes applied to a great personage or magnate. For example, the founders of the major Hollywood studios often have been called “moguls.”