Magnate, from the Late Latin magnas, a great man, itself from Latin magnus 'great', designates a noble or other man in a high social position, by birth, wealth or other qualities. In reference to the Middle Ages, the term is often used to distinguish higher territorial landowners and warlords such as counts, earls, dukes, and territorial-princes from the baronage.
The term was specifically applied to the members (equivalent to British Peers) of the Upper House in the Apostolic Kingdom of Hungary, the Főrendiház or House of Magnates.
Magnates were a social class of wealthy and influential nobility in the Crown of the Kingdom of Poland and Grand Duchy of Lithuania (and later the Polish-Lithuanian Commonwealth), and some other medieval realms. In Spain, since late Middle Ages there is the highest class of nobility who hold appellation of Grandee of Spain. In Sweden, wealthiest medieval lords were known as storman (plural stormän), "great men", a similar description as magnate, and same meaning. In England, the term magnate has often been applied to the extremely powerful nobles that Edward III created when he split his kingdom amongst his sons rather than choosing one son to inherit the entire kingdom. The ensuing conflict between these powerful nobles (and their successors) and whoever was king led to the aristocratic wars known as the Wars of the Roses. A similar class in the Gaelic world were the Flatha. In the Eastern Europe a similar class of boyars existed.
In the Middle Ages a bishop sometimes held territory as a magnate, collecting the revenue of the manors and the associated knights' fees.
Read more about Magnate: Magnates in Poland and Lithuania, Magnates in England