As the race to become the world's first trillionaire hots up it's tempting to think extreme wealth is a modern phenomenon. But the fortunes of some historical figures are comparable to – or in some cases actually dwarf – the net worths of Elon Musk, Bernard Arnault, and other 21st-century billionaires. 

From 19th-century American industrialists to the African king who once owned half the world's gold, we reveal the peak net worths of the richest people in history, as guesstimated by economists and historians and with figures adjusted for inflation.

All dollar amounts in US dollars

America's first multimillionaire, the German-born merchant was the first prominent member of the Astor family. He made his fortune trading in furs and built a powerful monopoly in the early 19th century, controlling the trade in the US and Canada.

At the time of his death in 1848, Astor was worth $25 million. However, in 2012, Forbes estimated his peak net worth to be in the region of $110 billion. Adjusting for inflation today, that's a sizable $150 billion (£112bn).

Born in 1794 to a struggling family in Staten Island, Vanderbilt went from rags to riches during his lifetime, building up a colossal fortune in the railroad and shipping industries, and giving much of it away later on in life.

By the time he died in 1877, Vanderbilt was the richest person in America and had $105 million to his name, the equivalent of roughly $3 billion (£2.5bn) today. But at his peak, the business magnate is thought to have been worth the equivalent of $185 billion (£140bn), according to Market Realist. 

The founder of the hugely profitable Ford Motor Company revolutionised vehicle manufacturing and brought the car to the mass market, selling over one million vehicles in 1920.

It should come as no surprise then that Ford was estimated to have a peak net worth that's the equivalent of around $200 billion (£150bn) in today's money.

This medieval aristocrat amassed a huge fortune during his lifetime thanks to the patronage of William the Conqueror (later King William I of England), his ridiculously rich uncle and close companion.

According to historian William Rubenstein, Rufus was worth £11,000 when he died in 1093, roughly 7% of England's GDP at the time and the equivalent of around $223 billion (£168bn) today.

The first Norman ruler of England, who famously invaded the kingdom in 1066, William the Conqueror seized lands and plundered treasures from south to north that historians believe would be worth around $230 billion (£173bn) in today's money.

He spent his lavish riches on everything from tapestries to castles, including the iconic White Tower at the Tower of London.

The last ruler of Hyderabad in India, Khan was absolute leader of the princely state from 1911 to 1948. For a good part of the 20th century, he was known as the richest man in the world with an estimated fortune of $2 billion by the early 1940s.

Estimates suggest that at his peak, Khan would have been worth the 2024 equivalent of $230 billion (£173bn).

No doubt the wealthiest government official in history, Heshen, who was born in 1750, was an administrator of the Qing Dynasty and a favourite of the emperor. This allowed him to get away with stealing tax revenues on an industrial scale.

When he died in 1799 the corrupt official was found to have stockpiled a personal fortune of 1.1 billion taels of silver, estimated to be worth the equivalent of around $270 billion (£203bn) in today's money.

In 2011, Libyan officials estimated that deposed leader Colonel Gaddafi had hidden away a fortune of $200 billion in secret bank accounts, shady investments and dubious real estate deals during his dictatorship, stolen from the country's massive oil revenues.

Adjusted for inflation, that's the equivalent of around $280 billion (£211bn) today.

Ill-fated Nicholas Romanov ruled over the Russian Empire from 1894 to 1917, during which time he had full access to the nation's coffers, making him one of the richest monarchs in history.

Not one to redistribute his wealth, a 1916 estimate of the tsar's personal fortune equates to $348 billion (£261bn) in today's money. 

From humble beginnings in Scotland, Andrew Carnegie led the massive expansion of the US steel industry in the late 19th century. According to the Carnegie Corporation of New York, his peak net worth amounted to the modern-day equivalent of $375 billion (£281bn)

A committed philanthropist, Carnegie gave away 90% of his fortune to various charities and educational establishments during the last years of his life.

Widely regarded as the richest American who ever lived, John D. Rockefeller founded the Standard Oil company in 1870 and ended up controlling around 90% of the US oil business.

Economist Peter Bernstein estimates that the industrialist-turned-philanthropist had a personal fortune of almost $400 billion (£300bn) in today's money.

Fittingly dubbed "Jakob the Rich", this banker, merchant, and mining pioneer was Europe's richest man during the early 16th century. His enormous wealth enabled him to influence the politics of the time, funding the rise of Holy Roman Emperor Maximilian I as well as bankrolling the Spanish King Charles V.

In 2015, American journalist Greg Steinmetz estimated Fugger's wealth stood at the equivalent of $400 billion (£300bn). Adjusting this figure for inflation in 2024, that's a staggering $531 billion (£399bn).

Musa I is easily one of the richest people in history. The King of Timbuktu and Malian emperor, who controlled a huge empire which covered much of modern-day Mali and Ghana, had half of the world's supply of gold at his disposal, which was traded with merchants from as far away as Venice, Genoa, and Egypt.

In 2012, Celebrity Net Worth estimated he was worth the modern-day equivalent of around $400 billion, which translates to an incredible $548 billion (£417bn) in 2024 money.

According to the Bible, King Solomon ruled from 970 BC to 931 BC, and during this time he's said to have received 25 tonnes of gold for each of the 39 years of his reign, which would be worth billions of dollars today.

Along with impossible riches amassed from taxation and trade, the biblical ruler's personal fortune may have been the equivalent of at least a trillion dollars (£750bn) in today's money.

The first Roman emperor, who ruled the vast empire from 27 BC until his death in AD 14, boasted a personal fortune equivalent to 20% of the entire empire's economy. Modern estimates suggest he would be worth around $4.6 trillion (£3.4tn). At one point Augustus even owned Egypt.

It wasn't to last, however. Poor economic performance and a succession of military failures plagued his final years.

Renowned for his lavish lifestyle and patronage of the arts, this emperor conquered hundreds of thousands of square miles of territory and ruled over much of the Indian subcontinent, known as the Mughal Empire, from 1556 until 1605.

He controlled around 25% of the world's GDP at the time, which would translate to a staggering $27 trillion (£20.1tn) in today's money. 

Shenzong ruled China from 1067 to 1085 during the "Peaceful Prosperity" and "Primary Abundance" eras when he controlled around 30% of global GDP, with estimates suggesting he was worth the equivalent of over $30 trillion (£22.5tn) today.

Though he was adept at collecting taxes, the emperor's administration wasn't all take, take, take. Its famous "New Policies", which helped improve the lives of the poor, are seen as a forerunner of the modern welfare state.

The fearsome Mongol leader conquered a mind-blowing 12 million square miles of land between 1206 and his death in 1227, more than anyone else in history.

But while his hordes pillaged their way through huge swathes of Eurasia (the combined continental landmass of Europe and Asia) – territory that is now worth trillions of dollars – Khan didn't actually hoard his spoils, choosing to redistribute the stolen loot and territory among his subjects instead.

Now discover who's in the race to become the world's first living trillionaire

Updated by Alice Cattley