Meaning of the word "be owned by" in English

What does "be owned by" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

be owned by

US /bi oʊnd baɪ/
UK /bi əʊnd baɪ/
"be owned by" picture

Phrase

to be the property of someone or something

Example:
This historic mansion is owned by a famous actor.
The company is owned by a large international corporation.