* Private colleges: The owner might be called a president, chancellor, board chair, or even just a proprietor (especially if it's a smaller, privately owned institution). The actual ownership might rest with a board of trustees, and the president or chancellor would be the chief executive officer.
* Public colleges: Public colleges are not owned by an individual but by a state or other government entity. The head of the institution is typically a president or chancellor, but they are not the owner.
So, there's no single, universally applicable answer.