A magnon laser comprising: a magnon gain medium (MGM) that supports generation of nonequilibrium magnons, and a means for generating nonequilibrium magnons in the MGM further comprising a means for pumping nonequilibrium electrons into the MGM. Propagation of nonequilibrium electrons in the MGM causes generation of nonequilibrium magnons. The MGM is selected from the group consisting of: {ferromagnetic semiconductor; ferromagnetic insulator; and ferromagnetic material}. The merging of nonequilibrium magnons causes generation of terahertz waves.