pronunced with an accent on the last sylable (as are most Hebrew words), with a long 'oo' sound, and with a guttural 'kh'.
Hebrew for kingdom, sovereignty. Malkhut is also the highest sephira, refering to the kingdom or sovereignty of "the holy one, blessed be He" (you know, the big guy, the man upstairs).

Occasionally spelled Malchut, or some variant thereof, as Hebrew transliteration has never been standardized.