What is the origin of the idiom "Midas touch" and when to use it?

The idiom "Midas touch" comes from Greek mythology and is named after King Midas. According to the myth, everything King Midas touched turned to gold, including his food and even his daughter. This idiom is used to describe someone who has the ability to be highly successful in everything they do or to turn every venture they undertake into a profitable or successful one.