a businessperson of great wealth and power; magnate.
(often initial capital letter) a title used with reference to the shogun of Japan.

1855–60; < Japanese taikun < Middle Chinese, equivalent to Chinese great + jūn prince

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World English Dictionary
tycoon (taɪˈkuːn)
1.  a business man of great wealth and power
2.  an archaic name for a shogun
[C19: from Japanese taikun, from Chinese ta great + chün ruler]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1857, title given by foreigners to the shogun of Japan (said to have been used by his supporters when addressing foreigners, as an attempt to convey that the shogun was more important than the emperor), from Jap. taikun "great lord or prince," from Chinese tai "great" + kiun "lord." Transf. meaning "important
person" is attested from 1861, in ref. to U.S. president Abraham Lincoln (in Hay's diary); specific application to "businessman" is post-World War I.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary

tycoon definition

Someone who has made a fortune in business, such as Cornelius Vanderbilt.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Now it is clear it was a manoeuvre to restyle his tycoon image.
In a sense, the restless tycoon had been hunting all his life-for success.
His cabinet contains another telecoms tycoon, among other businessmen.
They would be well within the budget of a small country, a large company or
  even a tycoon.
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