noun
magnate
MAG-nayt
noun
1
A wealthy and powerful person in business or industry.
"The shipping magnate donated millions to the new hospital wing."
"She built her fortune to become a media magnate by her thirties."
How to Use Magnate
Learner’s notesIn plain EnglishA powerful, wealthy figure at the top of an industry, like a "captain of industry."
Common mistake
Don't confuse with "magnet" (the object that attracts metal) — they sound alike but are unrelated.
Easily confused with
magnet
Common pairings
business magnate
media magnate
oil magnate
Word Forms
magnates plural
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The shipping _____ donated millions to the new hospital wing.
Etymology
From Late Latin magnātēs, plural of magnās, from magnus ("great").