A wealthy and influential person, especially in business or industry. Someone who has achieved great power and success in a particular field.
From Latin 'magnatus' (great man), from 'magnus' (great). Originally referred to nobles of high rank, later extended to powerful business figures in the 19th century.
The term 'robber baron' was coined for 19th-century magnates who built fortunes through ruthless business practices, but many later became philanthropists, creating a paradox of destructive wealth creation followed by generous giving!
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