GNU Collaborative International Dictionary of English

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Found one definition

1.       
   Magnate (?), [F. magnat, L. (pl.) magnates, magnati, fr. 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.
   
   [1913 Webster +PJC]
   
   
   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.
   
   [1913 Webster]