In classical texts "yǎn yǒu tiānxià" means to possess all under heaven.
Tips
usage
奄 is a literary word meaning suddenly, or to cover/encompass. The everyday survival is 奄奄一息 (barely breathing, at one's last gasp). It also has an archaic reading 奄 used as a variant for a eunuch.
The lower part, regularized to look like 电 in the modern form, serves as the phonetic-bearing element. Its quick, flashing image also fits the "suddenly" meaning.