Abstract: A magnetic suspension bearing for a rotating body having at least two magnet systems of coaxial permanent magnets arranged sequentially along the axis of rotation of the rotating body. Each magnet system is provided with two permanent magnets disposed on the rotating body and a stator, respectively. Each such permanent magnet is magnetized in a direction perpendicular to a major external surface, the adjacent surfaces of the magnets within a magnet system being of like polarity so as to repel one another. Each of the magnets is constructed so as to form a truncated cone, the axis of which coincides with an axis of rotation of the rotating body. In one embodiment, the apex of the cones are directed towards one another. The apex angle of the cones is advantageously preselected to provide desired axial and orthogonal components of force.