This is the 682nd most frequent Swedish word.
äger
"Äger" means "owns" in English.
In this sentence, 'äger' is used to indicate possession of an object, a car.
Hon äger en bil.
She owns a car.
Here, 'äger' is slang for excelling or dominating in an activity, in this case, a chess championship.
Han äger på schackmästerskapet.
He dominates at the chess championship.
Here, 'äger' is used in the context of hosting or conducting an event, specifically a weekly meeting.