IPA: /ˈoʊnər/
KK: /oʊnər/
A person who has legal possession of something, such as property or a business.
The owner of the restaurant decided to expand the menu.
Owner → It is formed from "own" (from Old English *agan*, meaning to possess) and "-er" (meaning a person who). An owner is a person who possesses something.
Think of someone who 'possesses' ('own') something — the '-er' just means a person. An owner is someone who has possession.