WordGarden.iomagnate
C2Pronunciation
UK
- /mˈæɡneɪt/
US
- /ˈmæɡˌneɪt/
Meanings
Noun
a very rich and powerful businessperson
Beyond the definition
Imagine the Roaring Twenties—lavish parties, booming businesses, and figures who seemed to control entire industries. These were often magnates—people with immense wealth and influence, particularly in business or industry. A magnate isn't just rich; they are a dominant force. Think of oil magnates like John D. Rockefeller or media magnates like Rupert Murdoch. You might also hear the term used for someone who dominates a particular field—a "real estate magnate" or a "tech magnate." It implies power and prosperity.
The word "magnate" evokes images of immense wealth, power, and influence. Originally stemming from the Latin word magnus, meaning "great," a magnate is someone who controls a significant portion of a particular industry or area of commerce. They aren't simply successful; they are dominant figures whose decisions can shape markets and even societies.
Historically, the term was often used to describe powerful industrialists during periods of rapid economic growth—railroad magnates in the 19th century, as well as steel and shipping magnates. Today, it is still frequently applied to business leaders, but its usage has broadened. You might hear about a "media magnate" controlling vast networks of newspapers and television stations, or a "property magnate" with extensive real estate holdings.
However, the term isn't always positive. It can carry connotations of ruthlessness, monopolistic practices, or excessive wealth. While it acknowledges success, it also hints at the power that comes with it—and how that power might be wielded.
So, a magnate is more than just a wealthy person; they are a powerful leader who commands significant influence within their domain—a figure whose actions resonate far beyond their own business dealings.
Examples
- 1
Business news
The hotel was bought by a local business magnate.
- Usage
often used in news or business writing
- 2
Media ownership
A media magnate used his newspapers to support the campaign.
- 3
Technology career
She built her reputation as a tech magnate before moving into politics.
- 4
Oil industry
Oil magnates met with government officials to discuss the new law.
More examplesFewer examples
- 5
Historical patron
The museum was founded by a railroad magnate in the early 1900s.
See also
Forms and spellings
2 forms open this card.
Main spelling
- magnatenoun
Forms
- magnatespluralnoun