A "steel magnate" refers to a person who has a lot of power and wealth in the steel industry. They own or oversee large companies that produce steel, making them highly influential in the business. Full definition
For decades, a central feature of more than 100 Illinois communities was the Carnegie Library, a gift of steel magnate Andrew Carnegie around the turn of the 20th century. (americanlibrariesmagazine.org)
What's more, the files reveal that AggregateIQ — also known as «AIQ» — is the developer behind campaign apps created for Texas Senator Ted Cruz and Texas Governor Greg Abbott, as well as a Ukrainian steel magnate named Serhiy Taruta, head the country's newly formed Osnova party. (gizmodo.com)
Asked about Brexit by Indian steel magnate Lakshmi Mittal, the former prime minister suggested that it was turning out to be unpalatable, but not disastrous. (totalpolitics.com)