Zaibatsu
Encyclopedia
Japanese language
is a language spoken by over 130 million people in Japan and in Japanese emigrant communities. It is a member of the Japonic language family, which has a number of proposed relationships with other languages, none of which has gained wide acceptance among historical linguists .Japanese is an...
term referring to industrial and financial business conglomerates
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
in the Empire of Japan
Empire of Japan
The Empire of Japan is the name of the state of Japan that existed from the Meiji Restoration on 3 January 1868 to the enactment of the post-World War II Constitution of...
, whose influence and size allowed for control over significant parts of the Japanese economy from the Meiji period
Meiji period
The , also known as the Meiji era, is a Japanese era which extended from September 1868 through July 1912. This period represents the first half of the Empire of Japan.- Meiji Restoration and the emperor :...
until the end of World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
.
Terminology
Although zaibatsu existed from the 19th century, the term was not in common use until after World War IWorld War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
. By definition, the "zaibatsu" were large family-controlled
Family business
A family business is a business in which one or more members of one or more families have a significant ownership interest and significant commitments toward the business’ overall well-being....
vertical monopolies consisting of a holding company
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
on top, with a wholly owned bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
ing subsidiary providing finance, and several industrial
Industry
Industry refers to the production of an economic good or service within an economy.-Industrial sectors:There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining, construction,...
subsidiaries dominating specific sectors of a market, either solely, or through a number of sub-subsidiary companies.
Significance
The zaibatsu were the heart of economic and industrial activity within the Empire of Japan, and held great influence over Japanese national and foreign policies. The Rikken SeiyukaiRikken Seiyukai
The was one of the main political parties in the pre-war Empire of Japan. It was also known simply as the ‘Seiyūkai'Founded on September 15, 1900 by Itō Hirobumi , the Seiyūkai was a pro-government alliance of bureaucrats and former members of the Kenseitō. The Seiyūkai was the most powerful...
political party
Political party
A political party is a political organization that typically seeks to influence government policy, usually by nominating their own candidates and trying to seat them in political office. Parties participate in electoral campaigns, educational outreach or protest actions...
was regarded as an extension of the Mitsui
Mitsui
is one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
group, which also had very strong connections with the Imperial Japanese Army
Imperial Japanese Army
-Foundation:During the Meiji Restoration, the military forces loyal to the Emperor were samurai drawn primarily from the loyalist feudal domains of Satsuma and Chōshū...
. Likewise, the Rikken Minseito
Rikken Minseito
was one of the main political parties in pre-war Empire of Japan. It was commonly known as the 'Minseitō'.The Minseitō was founded on 1 June 1927, by a merger of the Kenseikai and the Seiyu Hontō political parties. Its leadership included Osachi Hamaguchi, Wakatsuki Reijirō, Yamamoto Tatsuo, ...
was connected to the Mitsubishi group, as was the Imperial Japanese Navy
Imperial Japanese Navy
The Imperial Japanese Navy was the navy of the Empire of Japan from 1869 until 1947, when it was dissolved following Japan's constitutional renunciation of the use of force as a means of settling international disputes...
. By the start of World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
, the Big Four zaibatsu alone had direct control over more than 30% of Japan's mining, chemical, metals industries and almost 50% control of the machinery and equipment market, a significant part of the foreign commercial merchant fleet and 60% of the commercial stock exchange
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
.
The zaibatsu were viewed with suspicion by both the right and left of the political spectrum in the 1920s and 1930s. Although the world was in the throes of a worldwide economic depression, the zaibatsu were prospering through currency speculation, maintenance of low labour costs and on military procurement. Matters came to a head in the League of Blood Incident
League of Blood Incident
was a 1932 assassination plot in Japan in which extremists targeted wealthy businessmen and liberal politicians. The group chose twenty victims but succeeded in killing only two: former Finance Minister and head of the Rikken Minseito, Junnosuke Inoue, and Director-General of Mitsui Holding...
of March 1932, with the assassination of the managing director of Mitsui, after which the zaibatsu attempted to improve on their public image through increased charity work.
Big Four
The of MitsubishiMitsubishi
The Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
, Mitsui
Mitsui
is one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
, Sumitomo
Sumitomo Group
is one of the largest keiretsu, founded by Masatomo Sumitomo.-History:The Sumitomo group traces its roots to a bookshop in Kyoto founded circa 1615 by a former buddhist priest,...
and Yasuda are the most significant zaibatsu groups. Two of them, Mitsui and Sumitomo, have roots stemming from the Edo period
Edo period
The , or , is a division of Japanese history which was ruled by the shoguns of the Tokugawa family, running from 1603 to 1868. The political entity of this period was the Tokugawa shogunate....
while Mitsubishi and Yasuda trace their origins to the Meiji Restoration
Meiji Restoration
The , also known as the Meiji Ishin, Revolution, Reform or Renewal, was a chain of events that restored imperial rule to Japan in 1868...
. Throughout Meiji to Showa, the government employed their financial powers and expertise for various endeavors, including tax collection, military
Military
A military is an organization authorized by its greater society to use lethal force, usually including use of weapons, in defending its country by combating actual or perceived threats. The military may have additional functions of use to its greater society, such as advancing a political agenda e.g...
procurement
Procurement
Procurement is the acquisition of goods or services. It is favourable that the goods/services are appropriate and that they are procured at the best possible cost to meet the needs of the purchaser in terms of quality and quantity, time, and location...
and foreign trade.
New zaibatsu
Beyond the Big Four, consensus is lacking as to which companies can be called zaibatsu, and which cannot. After the Russo-Japanese WarRusso-Japanese War
The Russo-Japanese War was "the first great war of the 20th century." It grew out of rival imperial ambitions of the Russian Empire and Japanese Empire over Manchuria and Korea...
, a number of so-called "second-tier" zaibatsu also emerged, mostly as the result of business conglomerations and/or the award of lucrative military contracts. Some more famous second-tier zaibatsu included the Okura
Okura
The is, along with the Izumi school and Sagi schools, one of a school of kyogen. Kyogen of Ōkura school uses an older form of Japanese language than does Izumi. Their kyogen preserves the sarugaku tradition.-References:* *...
, Furukawa
Furukawa
Furukawa is a Japanese surname. It can refer to:-Real People:*Keiko Furukawa, announcer for Mainichi Broadcasting System...
, and Nakajima
Nakajima Aircraft Company
The Nakajima Aircraft Company was a prominent Japanese aircraft manufacturer throughout World War II.-History:...
groups, among several others.
The early zaibatsu permitted some public shareholding
Public company
This is not the same as a Government-owned corporation.A public company or publicly traded company is a limited liability company that offers its securities for sale to the general public, typically through a stock exchange, or through market makers operating in over the counter markets...
of some subsidiary companies, but never of the top holding company or key subsidiaries.
The monopolistic business practices by the zaibatsu resulted in a closed circle of companies until Japanese industrial expansion on the Asian mainland (Manchukuo
Manchukuo
Manchukuo or Manshū-koku was a puppet state in Manchuria and eastern Inner Mongolia, governed under a form of constitutional monarchy. The region was the historical homeland of the Manchus, who founded the Qing Empire in China...
) began in the 1930s, which allowed for the rise of a number of new groups (shinko zaibatsu), including Nissan
Nissan Group
Nissan Group , or formerly Nissan zaibatsu, is one of 15 of Japan's most powerful business groupings. Founded in 1928 by Yoshisuke Aikawa, the group was originally a holding company created as an offshoot of Kuhara Mining Co., which Aikawa had taken over as president of from his brother-in-law,...
. These new zaibatsu differed from the traditional zaibatsu only in that they were not controlled by specific families, and not in terms of business practices.
Postwar dissolution
Nationalization
Nationalisation, also spelled nationalization, is the process of taking an industry or assets into government ownership by a national government or state. Nationalization usually refers to private assets, but may also mean assets owned by lower levels of government, such as municipalities, being...
a significant portion of their production capability during World War II
World War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. Remaining assets were also highly damaged by the destruction during the war.
Under the American occupation
Supreme Commander of the Allied Powers
Supreme Commander of the Allied Powers was the title held by General Douglas MacArthur during the Occupation of Japan following World War II...
after the surrender of Japan
Surrender of Japan
The surrender of Japan in 1945 brought hostilities of World War II to a close. By the end of July 1945, the Imperial Japanese Navy was incapable of conducting operations and an Allied invasion of Japan was imminent...
, a partially successful attempt was made to dissolve the zaibatsu. Many of the economic advisors accompanying the SCAP
Supreme Commander of the Allied Powers
Supreme Commander of the Allied Powers was the title held by General Douglas MacArthur during the Occupation of Japan following World War II...
administration had experience with the New Deal
New Deal
The New Deal was a series of economic programs implemented in the United States between 1933 and 1936. They were passed by the U.S. Congress during the first term of President Franklin D. Roosevelt. The programs were Roosevelt's responses to the Great Depression, and focused on what historians call...
program under American President Roosevelt, and were highly suspicious of monopolies
Monopoly
A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity...
and restrictive business practices, which they felt to be both inefficient, and to be a form of corporativism (and thus inherently anti-democratic).
During the occupation of Japan, sixteen zaibatsu were targeted for complete dissolution, and twenty six more for reorganization after dissolution. Among the zaibatsu that were targeted for dissolution in 1947 were Asano, Furukawa, Nakajima, Nissan, Nomura, and Okura. Their controlling families' assets were seized, holding companies
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
eliminated, and interlocking directorships
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
, essential to the old system of inter-company coordination, were outlawed. Matsushita (which later took the name Panasonic), while not a zaibatsu, was originally also targeted for breakup, but was saved by a petition signed by 15,000 of its union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
workers and their families.
However, complete dissolution of the zaibatsu was never achieved, mostly because U.S. government rescinded the orders in an effort to reindustrialize Japan as a bulwark against Communism
Communism
Communism is a social, political and economic ideology that aims at the establishment of a classless, moneyless, revolutionary and stateless socialist society structured upon common ownership of the means of production...
in Asia. Zaibatsu as a whole were widely considered to be beneficial to the Japanese economy and government, and the opinions of the Japanese public, of the zaibatsu workers and management, and of the entrenched bureaucracy regarding plans for zaibatsu dissolution ranged from unenthusiastic to disapproving. Additionally, the changing politics of the Occupation during the reverse course served as a crippling, if not terminal, roadblock to zaibatsu elimination.
Modern-day influence
Today, the influence of the zaibatsu can still be seen in the form of financial groups, institutions, and larger companies whose origins reach back to the original zaibatsu, often sharing the same original family names (for example, Sumitomo Mitsui Banking CorporationSumitomo Mitsui Banking Corporation
is a Japanese bank based in Yurakucho, Chiyoda, Tokyo, Japan. It is a member of the Sumitomo Group and Mitsui Group. As of the year 2009, SMBC was the second largest bank in Japan in terms of assets.-History:...
). However, some argue that the "old mechanisms of financial and administrative control" that zaibatsu once enjoyed have been destroyed. Despite the absence of an actualized sweeping change to the existence of large industrial conglomerates in Japan, the zaibatsu's previous vertically integrated
Vertical integration
In microeconomics and management, the term vertical integration describes a style of management control. Vertically integrated companies in a supply chain are united through a common owner. Usually each member of the supply chain produces a different product or service, and the products combine to...
chain of command
Control (management)
Controlling is one of the managerial functions like planning, organizing, staffing and directing. It is an important function because it helps to check the errors and to take the corrective action so that deviation from standards are minimized and stated goals of the organization are achieved in...
, ending with a single family, has now widely been displaced by the horizontal
Horizontal plane
In geometry, physics, astronomy, geography, and related sciences, a plane is said to be horizontal at a given point if it is perpendicular to the gradient of the gravity field at that point— in other words, if apparent gravity makes a plumb bob hang perpendicular to the plane at that point.In...
relationships of association and coordination characteristic of . Keiretsu
Keiretsu
A is a set of companies with interlocking business relationships and shareholdings. It is a type of business group. The keiretsu has maintained dominance over the Japanese economy for the greater half of the twentieth century....
, meaning "series" or "subsidiary
Subsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
", could be interpreted as being suggestive of this difference.
List of zaibatsu
The Big Four- MitsubishiMitsubishiThe Mitsubishi Group , Mitsubishi Group of Companies, or Mitsubishi Companies is a Japanese multinational conglomerate company that consists of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy...
(三菱財閥) - MitsuiMitsuiis one of the largest corporate conglomerates in Japan and one of the largest publicly traded companies in the world.-History:Founded by Mitsui Takatoshi , who was the fourth son of a shopkeeper in Matsusaka, in what is now today's Mie prefecture...
(三井財閥) - SumitomoSumitomo Groupis one of the largest keiretsu, founded by Masatomo Sumitomo.-History:The Sumitomo group traces its roots to a bookshop in Kyoto founded circa 1615 by a former buddhist priest,...
(住友財閥) - Yasuda (安田財閥)
Second-tier zaibatsu
- AsanoTaiheiyo Cementis a Japanese cement company, and is the biggest of its kind in Japan. It was formed in 1998 with the merger of Chichibu Onoda and Nihon Cement ....
(浅野財閥) - FujitaFujita (company)Fujita was the name of a Japanese zaibatsu based in Osaka. Its founder is Densaburo Fujita. He built the foundation of Fujita zaibatsu by producing military goods during Satsuma Rebellion and rapidly expanded his business to construction, mining and other businesses.Many of its luxurious...
(藤田財閥) - FurukawaFuji Electric, operating under the brand name FE, is a Japanese holding company that retains manufacturing companies of pressure transmitters, flowmeters, gas analyzers, controllers, inverters, pumps, generators, ICs, motors, and power equipments.-History:...
(古河財閥) - MoriShowa Denkois a leading Japanese chemical engineering firm.Formed in 1939 by the merger of Nihon Electrical Industries and Showa Fertilizers, Showa Denko K.K. manufactures chemical products and industrial materials. SDK's products serve a wide array of fields ranging from heavy industry to the electronic...
(森コンツェルン) - Kawasaki (川崎財閥)
- NakajimaNakajima Aircraft CompanyThe Nakajima Aircraft Company was a prominent Japanese aircraft manufacturer throughout World War II.-History:...
(中島飛行機) - NitchitsuChissoThe is a Japanese chemical company. It is particularly well known as a supplier of liquid crystal used for LCD displays.Chisso is also known for its thirty-four year long contamination of the water supply in Minamata, Japan that led to thousands of deaths and victims of disease...
(日窒コンツェルン)
- NissanNissan GroupNissan Group , or formerly Nissan zaibatsu, is one of 15 of Japan's most powerful business groupings. Founded in 1928 by Yoshisuke Aikawa, the group was originally a holding company created as an offshoot of Kuhara Mining Co., which Aikawa had taken over as president of from his brother-in-law,...
(日産コンツェルン) - Nisso (日曹コンツェルン)
- NomuraNomura GroupThe formerly Nomura zaibatsu is a company headquartered in Chuo, Tokyo.Nomura is one of the major industrial and financial conglomerate groupings of Japan. Osaka Nomura bank was founded by Tokushichi Nomura II in 1919 after many successful business ventures; it was established on the Mitsui...
(野村財閥) - Okura (大倉財閥)
- RikenRIKENis a large natural sciences research institute in Japan. Founded in 1917, it now has approximately 3000 scientists on seven campuses across Japan, the main one in Wako, just outside Tokyo...
(理研コンツェルン) - Shibusawa (渋沢財閥)
Bankrupt zaibatsu
- Suzuki shoten (鈴木商店)
Popular culture
The term zaibatsu has been used often in books, comics, video games and films, referring to large, (usually) sinister Japanese corporations, who are often involved in shady dealings and/or have connections to the yakuzaYakuza
, also known as , are members of traditional organized crime syndicates in Japan. The Japanese police, and media by request of the police, call them bōryokudan , literally "violence group", while the yakuza call themselves "ninkyō dantai" , "chivalrous organizations". The yakuza are notoriously...
. Examples include the "Mishima Zaibatsu" which is mentioned throughout the Tekken series, the "Zaibatsu" criminal group in Grand Theft Auto 2
Grand Theft Auto 2
Grand Theft Auto 2 is a video game that was released worldwide on October 25, 1999, by developer DMA Design , initially for the Windows operating system and the PlayStation console. The game was later ported to the Dreamcast console and the Game Boy Color. It is the sequel to 1997 hit Grand Theft...
, and various writings of pioneer cyberpunk
Cyberpunk
Cyberpunk is a postmodern and science fiction genre noted for its focus on "high tech and low life." The name is a portmanteau of cybernetics and punk, and was originally coined by Bruce Bethke as the title of his short story "Cyberpunk," published in 1983...
author William Gibson
William Gibson
William Gibson is an American-Canadian science fiction author.William Gibson may also refer to:-Association football:*Will Gibson , Scottish footballer...
. In other cases zaibatsu are used simply to provide the background for a character from an influential family, such as in the case of the F4 in Boys Before Flowers who are the sons and heirs of the four (fictional) biggest corporations in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
; this is a reference to the Big Four.
- In the Tom ClancyTom ClancyThomas Leo "Tom" Clancy, Jr. is an American author, best known for his technically detailed espionage, military science, and techno thriller storylines set during and in the aftermath of the Cold War, along with video games on which he did not work, but which bear his name for licensing and...
book Debt of HonorDebt of HonorDebt of Honor is a novel by Tom Clancy. It is a continuation of the series featuring his character Jack Ryan. In this installment, Ryan has become the National Security Advisor when the Japanese government goes to war with the United States...
, a group of zaibatsu seize control of Japan and invade the US-held Mariana IslandsMariana IslandsThe Mariana Islands are an arc-shaped archipelago made up by the summits of 15 volcanic mountains in the north-western Pacific Ocean between the 12th and 21st parallels north and along the 145th meridian east...
. - The Itoshiki family from Sayonara Zetsubō SenseiSayonara Zetsubo Senseiis a Japanese manga by Kōji Kumeta, serialized in Weekly Shōnen Magazine. It is a comedy about a teacher who takes all aspects of life, word and culture in the most negative light possible. It satirizes politics, media, and Japanese society...
owns a zaibatsu to accentuate their heavy economical and political background. - A similar use is also made in Robert AsprinRobert AsprinRobert Lynn Asprin was an American science fiction and fantasy author and active fan, best known for his humorous MythAdventures and Phule's Company series.- Background :...
's The Cold Cash WarThe Cold Cash WarThe Cold Cash War is a 1977 science fiction novel by Robert Asprin. Based on an earlier short story of the same title, it is set in a dystopian future. In this future, corporations, referred to as Zaibatsu, have moved some aspects of their competition from the economic to the military.The action...
, where megacorporations of this name, dominating the world, are not specifically Japanese. - Lewis ShinerLewis ShinerLewis Shiner is an American writer.Shiner began his career as a science fiction writer, identified early on with cyberpunk, and later wrote more mainstream novels, albeit often with magical realism and fantasy elements...
's 1984 novel Frontera, anticipating the dissolution of the USSRDissolution of the Soviet UnionThe dissolution of the Soviet Union was the disintegration of the federal political structures and central government of the Union of Soviet Socialist Republics , resulting in the independence of all fifteen republics of the Soviet Union between March 11, 1990 and December 25, 1991...
, depicted the transformation of what were at the time of writing state-owned Soviet companies such as AeroflotAeroflotOJSC AeroflotRussian Airlines , commonly known as Aeroflot , is the flag carrier and largest airline of the Russian Federation, based on passengers carried per year...
into "Zaibatsu"—the term being used in the broad sense of "a big privately owned corporation". - The roleplaying game Mage: the AscensionMage: The AscensionMage: The Ascension is a role-playing game based in the World of Darkness, and was published by White Wolf Game Studio. The characters portrayed in the game are referred to as mages, and are capable of feats of magic...
uses the term "The Zaibatsu" to refer to Japan's branch of the magic-suppressing Technocracy. Its members use undetectable spells to predict business information and defeat rivals in order to maintain control of Japan and defeat the shenShen (Chinese religion)Shen is a keyword in Chinese philosophy, Chinese religion, and Traditional Chinese Medicine.-Pronunciation:Shén is the Modern Standard Chinese pronunciation of 神 "spirit; god, deity; spiritual, supernatural; awareness, consciousness etc". Reconstructions of shén in Middle Chinese Shen is a...
(supernatural creatures), including other mages.
See also
- ChaebolChaebolChaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...
- The HongsThe HongsThe Hongs were major business houses in Canton and later Hong Kong with significant influence on patterns of consumerism, trade, manufacturing and other key areas of the economy...
- KeiretsuKeiretsuA is a set of companies with interlocking business relationships and shareholdings. It is a type of business group. The keiretsu has maintained dominance over the Japanese economy for the greater half of the twentieth century....
- Japanese post-war economic miracleJapanese post-war economic miracleThe Japanese post-war economic miracle is the name given to the historical phenomenon of Japan's record period of economic growth following World War II, spurred mainly by Japanese economic policy, in particular through the Ministry of International Trade and Industry...
- Military-industrial complexMilitary-industrial complexMilitary–industrial complex , or Military–industrial-congressional complex is a concept commonly used to refer to policy and monetary relationships between legislators, national armed forces, and the industrial sector that supports them...
- Thirteen FactoriesThirteen FactoriesThe Thirteen Factories was an area of Canton , China, where the first foreign trade was allowed in the 18th century since the hai jin ban on maritime activities...
- OligarchyOligarchyOligarchy is a form of power structure in which power effectively rests with an elite class distinguished by royalty, wealth, family ties, commercial, and/or military legitimacy...
- Russian oligarchsRussian oligarchsBusiness oligarch is a near-synonym of the term "business magnate", borrowed by the English speaking and western media from Russian parlance to describe the huge, fast-acquired wealth of some businessmen of the former Soviet republics during privatization in Russia and other post-Soviet states in...
- The Zaibatsu Corporation