A magnetic bearing for passively suspending a rotatable element subjected to axial and radial thrust forces is disclosed. The magnetic bearing employs a taut wire stretched along the longitudinal axis of the bearing between opposed end pieces and an intermediate magnetic section. The intermediate section is segmented to provide oppositely directed magnetic flux paths between the end pieces and may include either an axially polarized magnets interposed between the segments. The end pieces, separated from the intermediate section by air gaps, control distribution of magnetic flux between the intermediate section segments. Coaxial alignment of the end pieces with the intermediate section minimizes magnetic reluctance in the flux paths endowing the bearing with self-centering characteristics when subjected to radial loads. In an alternative embodiment, pairs of oppositely wound armature coils are concentrically interposed between segments of the intermediate section in concentric arcs adjacent to radially polarized magnets to equip a magnetic bearing as a torsion drive motor. The magnetic suspension bearing disclosed provides long term reliability without maintenance with application to long term space missions such as the VISSR/VAS scanning mirror instrument in the GOES program