Meaning of the word magnate in English

What does magnate mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

magnate

US /ˈmæɡ.nət/
UK /ˈmæɡ.nət/

Noun

1.

a person who is very rich and successful in business or industry:

Example:
a well-known shipping magnate
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