baronize

[ bar-uh-nahyz ]
/ ˈbær əˌnaɪz /

verb (used with object), bar·on·ized, bar·on·iz·ing.

to make or create (someone) a baron; confer the rank of baron upon.
Also especially British, bar·on·ise.

Origin of baronize

First recorded in 1605–15; baron + -ize