In England around the mid-19th century, and for reasons unknown, thugs began talking about money as “shot”. It was jargon in the underworld for profits made from any kind of illegal undertaking. A good haul was regarded as a big shot; while no ill-gotten gain was no shot at all. Eventually, the term transferred from the loot to the person. When a hood made a haul, he was admired as a “big shot”. The term has since evolved from its association with gangs to persons considered important.
See: Webb B. Garrison, Why You Say It? (New York: Abingdon Press, 1955), pp.
312-313.
Really love this. Great it of etymology!
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