Magnates (7)
<span class="explanation-format__ClueExplanation">'<span class="explanation-format__original">magnates</span>' is the definition.<br/ ><span class="explanation-format__explanation">('tycoon' can be a synonym of 'magnate')</span><br/ ><br/ >This is the entire clue.<br/ ></span>
(Other definitions for tycoons that I've seen before include "Business magnates" , "Very wealthy or powerful business people" , "Powerful businessmen" .)
(Other definitions for nabobs that I've seen before include "Officials of Mogul empire, or just wealthy people" , "Governors under the Mogul empire in India" .)