An important or powerful person, often someone in a position of authority or leadership.
From 18th-century slang combining 'big' with 'wig'—in that era, formal wigs were expensive and worn by wealthy, important men, so a 'big wig' became associated with prestige and power.
This term perfectly captures how language mocks authority: calling a CEO or politician a 'bigwig' is kind of insulting because you're basically saying their importance comes down to their fancy hairpiece! It's slang that reveals social attitude.
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