A Quranic Journal

The reciters have two different ways of reciting the first word of this verse, both of which have been reported via continuous (mutawaatir) transmission from the Prophet (SAW) as well as Abu Bakr and Umar [As mentioned by at-Tirmidhee]: 1. Reciting it as Malik, or the King.

So the meaning of the verse would be that on that Day, Kingship belongs to Allaah Alone and not to any of the creation who before then used to be kings on earth, vying with each other for power and dominion, exulting in what they had, pompously boasting about their grandeur and trying their best to outdo their competitors. However on that day they will come to know with certainty that in reality they are powerless and humiliated and that Grandeur, Power and Authority belongs in its entirety to Him Alone.

2. Reciting it as Maalik, or the Owner.

So the meaning of the verse would be that on that Day, everything would belong to Him and no one else. No one will be able to voice an opinion or enforce a ruling as they used to do on this world.