let $U$ be any linear operator on a finite dimensional vector space. If rank $U^m = U^{m+1},$ for some positive integer m. Then Rank $U^m =$ Rank $U^k,$ for k $\geq$ m.
For Diagnol matrices, the result is obvious.
Is that neccessary that the characteristic polynomial of finite dimensional space always splits. If so, the problem reduces to prove for only jordan blocks.
Hint Since rank is invariant under similarity, it's enough to prove this for matrices in Jordan Canonical Form.