Webster's Revised Unabridged Dictionary · 1913

Magnate

Magnate

[French magnat, Latin (pl.) magnates, magnati, from magnus great. See Master.]

1.
A person of rank; a noble or grandee; a person of influence or distinction in any sphere; -- used mostly of prominent business executives; as, an industrial magnate. — Macaulay
2.
One of the nobility, or certain high officers of state belonging to the noble estate in the national representation of Hungary, and formerly of Poland.