The word "富翁" is formed by combining two meaningful characters. The first character, "富", directly represents wealth, abundance, and riches. It is paired with "翁", an old term for a venerable elder or patriarch, which carries a connotation of respect and established status. Together, they visually and conceptually create the image of a "wealthy elder", a person whose riches and social standing are so substantial and long-held that they command the respectful title of "翁", thus universally meaning a wealthy person or magnate.