The gateman becomes a rich man (7)

I believe the answer is:

magnate

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'a rich man' is the definition.
The definition and answer can be both people as well as being singular nouns.
Maybe you can see a link between them that I don't see?

'the gateman becomes' is the wordplay.
'becomes' indicates an anagram.
'gateman' anagrammed gives 'MAGNATE'.

Can you help me to learn more?

(Other definitions for magnate that I've seen before include "Baron" , "Tycoon" , "Wealthy figure" , "Fat cat" , "Important fellow" .)

I've seen this clue in The Irish News.

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