He is a magnate.

Sami was an Egyptian shipping magnate.

Besides his battery manufacturing company, the business magnate also has ventures to build reusable rocket stages for commercial space flight, fully electric cars and cheaper, more efficient solar panels.

I was in a rage against those whom you quote and who work hard for their magnates.

Old Acton, who is one of our county magnates, had his house broken into last Monday. No great damage done, but the fellows are still at large.