The phrase "oil magnate" refers to a person who is incredibly rich and powerful because they own or control a large portion of the oil industry. Full definition
Inspired by true events, and now heavily publicized by a necessary cast replacement, All the Money in the World is Ridley Scott's latest offering about the kidnapping of oil magnate J.Paul Getty's grandson in Italy in 1973. (filmireland.net)
Since oil magnate John D. Rockefeller founded the University of Chicago in 1890, the private school has established a global presence with international centers in Beijing, New Delhi, Paris, and Hong Kong. (businessinsider.com)
On the other side of the aisle, Republican billionaire John Catsimatidis, a supermarket and oil magnate who has been paying a pack of young staffers to fan out across the city, tweeted Tuesday afternoon that he had amassed over 25,000 signatures to get him on the ballot. (observer.com)