Definition of "magnate" []

• A powerful or influential person, especially in business or industry: an oil magnate. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "To its supporters, who include among others the British Government, which has signed a potentially lucrative contract with Odyssey to salvage a 17th century navy ship called HMS Sussex carrying bullion worth up to £500m, the Nasdaq-listed company, founded by a former advertising executive and a real estate magnate, is a reputable organisation that follows strict archaeological guidelines in its legitimate search for sunken vessels."
• "At about the same time that shipping became a major industry, Bolivian tin magnate, Atenor Patiño, built Las Hadas, as a "playground" for his jet setting friends."
• "Carlos Slim, the telecommunications magnate, is the richest person in Latin America, according to the annual Forbes Magazine list of the world's 500 richest people."