Magnate
/ˈmæɡˌneɪt/
nounC1
Definition
A magnate is someone who owns or leads a big business or company and has a lot of money and influence. This person usually has strong power in a certain area like business, media, or industry. Magnates are often known for their success and leadership in their field.
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See It in Action
A very rich and powerful business leader
- •The oil magnate invested in new energy companies.
- •She became a real estate magnate after buying many buildings.
- •The media magnate owns several television stations.
Make It Stick
- ✓Think of "magnate" like "boss," but a very big boss who controls many things and has a lot of money.
- ✓Picture a tall building with many windows—inside is the magnate who makes important decisions for the whole company.
- ✓It feels like the power you imagine a king or queen has, but in business instead of a country.
- ✓Sounds like "MAG-nate" → imagine a magnet that pulls many people and money toward it because of its power.
- ✓Think of famous business people in stories or movies who own big companies and influence many people.
- ✓NOT like "manager" (manages a small team), a magnate controls a whole large business or industry.
- ✓NOT like "worker" (does tasks), a magnate leads and owns big parts of business.
- ✓NOT like "celebrity" (famous for entertainment), a magnate is famous for business success and power.
Try Other Words
- •Tycoon: a very rich and powerful business person (Use when emphasizing wealth and influence in business)
- •Baron: a person with great power in a specific industry (Use especially in contexts like "oil baron" or "media baron")
- •Industrialist: a person who owns or manages a large industrial business (Use when focusing on manufacturing or production industries)
Unboxing
- •Word parts: "magn-" (from Latin "magnus" meaning great or large) + suffix "-ate" (used to form nouns)
- •Etymology: From Latin "magnas" meaning great or large, used to describe someone important or powerful
- •Historical development: Originally used to describe noble or important persons; later used for wealthy business leaders
- •Modern usage: Used to describe very wealthy and powerful people in business or industry, often with strong influence
Reflect & Connect
•What qualities do you think a magnate needs to be successful beyond just money?
•How does the role of a magnate affect the economy and society around them?
Fill in the blanks
1.A magnate usually has ___ control over a large ___ or industry.
2.The oil magnate invested millions because the ___ was very promising.
3.Unlike a small business owner, a magnate’s decisions can ___ the whole market.
4.When someone is called a magnate, it means they are very ___ and have great ___.
5.A magnate often ___ many companies or properties to increase their influence.
6.The power of a magnate is ___ compared to a regular manager or ___.
7.People respect a magnate because of their ___ and ability to lead big ___ successfully.