It starts with his resurrection. This, in itself, is not an uncommon thing for the Master. This is a man who has survived incineration, being sucked into a black hole, and natural death by sheer force of will. In this case, however, just why he's come back is a bit of a mystery to him. He certainly did not plan for his own return, having refused to regenerate after being shot by his erstwhile companion. Perhaps someone chose to raise him; perhaps Death would not accept him. It soon became unimportant. Being alive meant resuming his hunt for the Doctor, scheming and controlling, preparing for his endless war. It took some ingenuity and being very, very patient, but eventually he found a way off Earth and out into the cosmos once more.
He had hid his TARDIS thousands of years in the past on some far-flung world, a forbidding planet of ice and radioactive stone. What intelligent life there was had been primitive. Upon his return, however, things had certainly changed. The pitiful creatures he once found shivering in mud huts had industrialized, begun creating machines and experimenting with electricity. His TARDIS had remained an unchanging feature in a rapidly changing society. So when he came to reclaim it, actually opening the door of a tree no one could fell... he found himself regarded as a god. It was just as well, since he soon discovered his ship was dying and would in all likelihood never fly again. So rather than rebuff them and be on his way, as was the plan, he decided to graciously accept dominion over their planet, all while using their efforts to build himself a new way to travel.
The world he currently rules over, which has no name but goes by the registry designation Digamma (615-1), is a creation of mine. Hey, I like world-building, man. Anyway, you can read some background on it here:
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