The word of the day is nabob, which refers to a very rich or important person. The term can be used to describe individuals who hold significant power or wealth. An example of the word's usage is in the phrase "corporate nabobs," which refers to high-ranking business executives. The word has its roots in the Urdu title of nawāb, which was given to provincial governors in India's Mogul Empire. The English version of the word was introduced by Captain Robert Coverte in 1612. Initially, the word referred to a high-ranking official, but it later gained an extended sense of a prominent person in the 18th century. This shift in meaning occurred when the word was used to describe British officials of the East India Company who returned home with great wealth. The word gained significant attention when Vice President Spiro Agnew used it in a 1970 speech to criticize members of the news media. Agnew referred to them as "nattering nabobs of negativism," a phrase that was written by William Safire. The word has since been used to describe individuals who are perceived as being overly critical or negative, and it continues to be used in modern language to convey a sense of importance or wealth.