The Ring was owned by Gollum before Bilbo found it in the Misty Mountains.
Gollum, also known as Sméagol, was a Hobbit who became obsessed with the Ring and was corrupted by its power. He spent centuries hiding in the dark depths of the Misty Mountains, constantly searching for the Ring.
Gollum's possession of the Ring is a crucial part of the Lord of the Rings story. It explains how the Ring ended up in Bilbo's possession, setting in motion the events that would ultimately lead to the Ring's destruction.
