Again, this is about historic context. They wielded power widely enough (monopolistic practices, predatory acquisitions, etc) that they earned the distrust. Every move, however magnanimous is carefully weighed as to how it can be monetize at a maxim (now, without drawing Govt scrutiny).
One of many is right in the quote.
The obvious difference is how the power in an industry has been wielded. Railroad barons were the closest historical equivalent, imo.