And it references the "ivory tower" of academia, the pursuit of "higher learning". In the age of skyscrapers we don't appreciate the inherent power/awe that tall structures likely had on people. It symbolically indicates power from ability, technology, competence, engineering, and use of resources.

Actually, skyscrapers ARE the modern equivalent. The "wizards of finance" and the like inhabit them, exerting power with the magic spells of technology, finance, bribery, influence, and organization. Corporations seek them for the same reasons that fantasy wizards, kings, and churches used to.

And duh, Tolkien. It's the title of the second book.