Other forms: magnates
A magnate is a rich and powerful figure in business. A shipping magnate, a press magnate.
It takes the industry before it, so there are steel magnates and property magnates. The word is faintly old-fashioned and belongs to obituaries more than to news reports.
1nounmagnateA rich and powerful figure in business.
“The magnate owned four newspapers and a football club.”
magnate is a person.
The Latin behind it is big. A magnate is a big man in business, big enough that the business moves when he does.
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Latin magnas, a great man, comes from magnus, great; English took the plural magnates first and made a singular from it.
Latin
magnātēs
English, today
magnate
Built from
Borrowed into late Middle English - from Latin magnātēs, plural of magnās, from magnus (“great”), mid 15
Etymology from Wiktionary, CC BY-SA