A baron is a nobleman — a member of the aristocracy. Barons are also important, powerful businessmen with huge influence over their industries. In Britain, a baron is called “Lord,” but in the States, we call them “rich.”
Barons are members of the aristocracy — wealthy people born into power and influence. How high a baron ranks depends on the country, but the title always carries respect. Similarly, a business leader who is rich, powerful, and influential is a baron. The term is used in phrases such as oil baron and baron of industry. You can also call that kind of baron a big businessman, magnate, mogul, top executive, or tycoon.