Once upon a time in Greece, there was a shepherd named Magnes. He used to take his herd of sheep and goats to the nearby mountains for grazing. He used to carry a stick with a small piece of iron attached to it for controlling his herd.
One day he was surprised to find that he had to pull hard to free his stick from a rock on the mountainside. The rock was a natural magnet that attracted the iron tip of the shepherd’s stick. This was how the magnet was discovered.
Such rocks were given the name magnetite, perhaps after the name of that shepherd.