A Definitive Ranking Of The Richest People Of All Time: Inflation Adjusted

Back in 2010, Celebrity Net Worth published a list of the richest humans in history, adjusting for inflation. That original list, which was published right here on this URL, spawned countless copycat versions, Wikipedia pages, and clickbait galleries. It was referenced in songs, books, podcasts, and television series. We spent a month compiling that first list. It was the first major long-form article (non-net worth estimate) that we published.

To compute historical fortunes into modern present-day net worths, we used a combination of basic inflation calculations, the relative purchasing power of wealth to GDP over time, and finally, the historical value of two primary assets: gold and land. We started with over 100 historical and present-day figures who were known to be exceptionally wealthy. Business tycoons, kings, queens, emperors, landowners, tyrants… We ended with 25 individuals. Those 25 individuals were the richest people of all time at that point.

A LOT has changed since 2010. In our original list, Warren Buffett's then-peak $64 billion net worth was enough to make him the 25th richest person in history. Today, $64 billion would barely be enough to make you one of the 25 richest people on the planet.

In 2010, Facebook was two years away from being a public company. At that point, the company's 26-year-old founder, Mark Zuckerberg, was worth around $5 billion on paper based on Facebook's most recent private valuation. Today, Mark is the second richest person in the world, with a net worth of $253 billion.

In 2010, a $100 billion fortune was extremely significant. Only a handful of people had ever produced a net worth greater than $100 billion, even after adjusting for inflation. Today, people don't even blink at a $100 billion fortune. In July 2021, all 10 of the richest people in the world had net worths exceeding $100 billion. Even $200 billion has become somewhat unremarkable. As I type this article, there are four people in the world with fortunes north of $200 billion.

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This is the most shocking fact about our original list from 2010 – It did not feature Jeff Bezos OR Elon Musk.

Back in 2010, Jeff Bezos was worth an extremely respectable, but not exactly earth-shattering, $20 billion. Thanks to Amazon's incredible growth in the last decade, Jeff Bezos slowly and steadily established one of the largest personal fortunes in history, currently sitting at $250 billion. And that's true even after losing a sizable chunk of that fortune to his ex-wife.

And then there's Elon.

In the last decade, no billionaire has seen a more extreme explosion in wealth than Elon Musk. By total coincidence, we published our original 2010 list just a few weeks before a very important event in wealth history: On June 29, 2010, Tesla went public.

Tesla ended its first day of trading as a public company with a total market cap of $1.77 billion. That is not a typo. $1.77 billion. In November 2024, Elon's net worth came extremely close to hitting $500 BILLION.

Bill Gates is a fun caveat in this list. Bill was the undisputed richest person on the planet from roughly 1994 until 2018. Even after getting a divorce, today Bill Gates is worth $170 billion, which makes him the seventh richest person in the world. HOWEVER. When Microsoft went public, Bill owned 45% of the company's outstanding equity. Between 1991 and 2001, Bill reduced his stake down to 14%. Today, he owns less than 3% of Microsoft. He always would have sold some of his equity to diversify his net worth, but had he maintained a 30% stake in recent times with Microsoft's market cap above $3.1 trillion, Bill Gates absolutely could have been the world's first trillionaire.

So, did that make Elon the richest person of all time?

Rockefeller + Musk (Getty)

Historical Figures

Let's talk about some historical figures. In ancient and medieval times, wealth was often tied to control of land, resources, and empires. While exact figures are impossible to determine, historians have made reasonable estimates based on records of economic influence.

• Mansa Musa (c. 1280–1337) – The 14th-century ruler of the Mali Empire is often cited as the richest person in history. He ruled the Malian Empire, which covered modern-day Ghana, Timbuktu, and Mali in West Africa. Mansa Musa's shocking legendary wealth came from his country's vast production of more than half the world's supply of salt and gold. Musa used his wealth to build immense mosques that still stand today, nearly 700 years later. His kingdom and wealth didn't last much longer after his death. His heirs were not able to fend off civil war and invading conquerors. Just two generations later, his world record net worth was gone. Mali was one of the world's largest producers of gold and salt, and Musa controlled vast trade networks. His legendary pilgrimage to Mecca was so extravagant that he reportedly caused inflation in multiple cities by giving away massive amounts of gold. Estimates of his wealth vary, but modern approximations suggest it could have been around $400 billion in today's terms.

• Augustus Caesar (63 BC–14 AD) – As the first Roman Emperor, Augustus controlled an empire responsible for 25–30% of the world's GDP at its peak. He personally owned Egypt as a private asset and controlled vast war spoils and taxation revenues. Some historians estimate that one-fifth of the Roman economy was in his hands, which would equate to $4.6 trillion today.

• Genghis Khan (c. 1162–1227) – The Mongol conqueror built the largest contiguous empire in history, stretching from China to Europe. While he didn't hoard personal wealth in the traditional sense, his control over vast lands, resources, and tribute systems effectively made him one of the richest men ever. Some speculative accounts assign him an astronomical fortune, but most historians agree that while his empire was vast, he distributed wealth among his generals and armies.

• Emperor Shenzong of Song China (1048–1085) – Ruler of one of the most prosperous economies of its time, Shenzong oversaw an empire that accounted for nearly 30% of the world's GDP. His wealth, when adjusted for today's standards, would likely rival or surpass that of modern billionaires.

• Emperor Akbar I of Mughal India (1542–1605) – The Mughal Empire under Akbar was one of the wealthiest of its time, controlling about 25% of global GDP. His personal wealth, though inseparable from the empire's treasury, would have been immense.

• Nikolai Alexandrovich Romanov (1868 – 1918) –  Nikolai Alexandrovich Romanov, also known as Tsar Nicholas II of Russia, ruled the Russian empire from 1894 to 1917 when Bolshevik revolutionists overthrew and murdered him and his family. In 1916, Tsar Nicholas II's net worth was nearly $900 million, which is the inflation-adjusted equivalent of $300 billion.
• Mir Osman Ali Khan (1886–1967) – Mir Osman Ali Khan, also known as The Nizam of Hyderabad, was the ruler of Hyderabad until the country was invaded by neighbor India. Mir Osman Ali Khan had a personal collection of gold that was worth more than $100 million and owned over $400 million worth of jewels, including the famous Jacob Diamond, which is worth $95 million today. Khan used the diamond as a paperweight in his office. He supposedly owned more than 50 Rolls Royces. In total, he was worth the modern equivalent of $230 billion.
• William The Conqueror (1028-1087) – William The Conqueror lived from 1028-1087 and was most famous for invading and subsequently seizing England in 1066. When you spend a lifetime conquering other kingdoms, you tend to acquire quite a bit of money. In William's case, when he died, he left the equivalent of $229.5 billion to his sons.

Rockefeller + Musk (Getty)

Industrial Titans (100–200 Years Ago)

The late 19th and early 20th centuries saw the rise of industrial and financial empires that created record-breaking personal fortunes. These industrial titans often controlled monopolies in oil, steel, railroads, and banking.

• John D. Rockefeller (1839–1937) – The Standard Oil founder is widely regarded as the richest American in history. By the 1880s, his company controlled 90% of U.S. oil production. When adjusting for inflation and GDP share, his net worth is estimated at $300–$400 billion today. His business dominance led to antitrust laws, and his philanthropy helped establish modern medicine and education systems.

• Andrew Carnegie (1835–1919) – A steel magnate, Carnegie built Carnegie Steel, which he sold for $480 million in 1901. This was equivalent to 2.1% of U.S. GDP at the time, translating to $372 billion today. When he sold his company to JP Morgan, Carnegie took home $230 million worth of gold bonds and received a 5% annual coupon to top it off. The bonds sat in a bank in New Jersey which Carnegie never visited. Carnegie devoted most of his fortune to charitable causes, funding libraries, universities, and cultural institutions.

• Henry Ford (1863–1947) – The Ford Motor Company founder revolutionized the automobile industry with the Model T and assembly line production. At his peak, his fortune was around $100 million in the early 1910s, which equates to $200 billion today. His impact on mass production, wages, and industrial growth was profound.

• Cornelius Vanderbilt (1794–1877) – Made his fortune in shipping and railroads. At the time of his death, his wealth was estimated at $100 million, which would be around $200 billion today. His control over transportation infrastructure helped shape the U.S. economy.

• John Jacob Astor (1763–1848) – America's first multimillionaire, he built his fortune through fur trading and New York real estate. He left behind $20 million, equivalent to $110–168 billion today.

(John D. Rockefeller /Hulton Archive/Getty Images)

Modern Billionaires

Unlike historical estimates, modern billionaires' net worths are well-documented through financial reports, stock valuations, and investment disclosures. Many of today's wealthiest individuals have built their fortunes in technology, retail, and finance, with their net worth fluctuating based on market trends and business expansions.

• Elon Musk (born 1971) – The Tesla, SpaceX, and Neuralink founder became the first person to surpass $300 billion in net worth in 2021. In November 2024, Musk's fortune soared to nearly $500 billion, making him the richest person in modern history in nominal terms. His wealth primarily comes from Tesla stock, SpaceX's valuation, and other tech ventures.

• Jeff Bezos (born 1964) – The Amazon founder was the first person in modern times to amass over $200 billion in net worth. His fortune is tied to Amazon's e-commerce and cloud computing dominance. Despite stepping down as Amazon's CEO, his holdings in Amazon and Blue Origin keep him among the wealthiest. Today, Jeff is worth $250 billion.

• Mark Zuckerberg (born 1984) – The Meta (formerly Facebook) founder has seen his wealth rise dramatically in recent years. As of this writing, Zuckerberg's net worth has climbed to $250 billion, making him one of the richest individuals in the tech sector. His investments in artificial intelligence, the metaverse, and social media dominance have played a significant role in his financial success.

• Bernard Arnault (born 1949) – The French luxury goods magnate and CEO of LVMH (Louis Vuitton Moët Hennessy) has consistently ranked among the world's richest individuals. His high-end fashion, jewelry, and alcohol empire has seen record-breaking revenues, bringing his fortune above $200 billion at various points.

• Larry Ellison (born 1944) – The Oracle co-founder has a net worth of $200 billion as of this writing. His influence in cloud computing, enterprise software, and database management has made him one of the most enduring figures in technology. Ellison also owns a significant stake in Tesla, contributing to his vast fortune.

• Bill Gates (born 1955) – The Microsoft co-founder was the world's richest person for much of the 1990s and early 2000s, with a peak net worth exceeding $170 billion. While he has given away a significant portion of his fortune through the Bill & Melinda Gates Foundation, he still ranks among the richest individuals today, largely due to his Microsoft holdings and investments in renewable energy, AI, and philanthropy. And just a reminder, as we mentioned earlier in this article, Bill Gates absolutely could have been the world's first trillionaire had he not sold off so much of his Microsoft stake.

• Larry Page (born 1973) – A co-founder of Google and Alphabet, Page has a net worth of $170 billion. He remains a major shareholder in Alphabet, the parent company of Google, YouTube, and Waymo, among other ventures.

• Sergey Brin (born 1973) – Page's Google co-founder, Brin has amassed $160 billion, largely through his Alphabet shares and investments in artificial intelligence and self-driving technology.

• Steve Ballmer (born 1956) – The former Microsoft CEO and owner of the Los Angeles Clippers has built his fortune largely through Microsoft stock, where he remains one of the largest individual shareholders. As of now, his net worth is $145 billion.

Full List of the Richest People of All Time

1. Augustus Caesar – $4.6 trillion (controlled vast portions of the Roman economy, including Egypt as a private asset)
2. Elon Musk – Peaked at nearly $500 billion (Tesla, SpaceX, Neuralink, and other ventures)
3. Mansa Musa – $400 billion (ruled Mali Empire, controlled immense gold and salt trade)
4. John D. Rockefeller – $300-$400 billion (founder of Standard Oil, controlled 90% of U.S. oil production)
5. Tsar Nicholas II of Russia – $300 billion (last Emperor of Russia, controlled vast wealth through land and resources)
6. Andrew Carnegie – $372 billion (sold Carnegie Steel, one of the largest fortunes in U.S. history)
7. Mir Osman Ali Khan – $230 billion (Nizam of Hyderabad, controlled vast gold and jewel reserves)
8. William The Conqueror – $229.5 billion (seized and controlled England's wealth)
9. Henry Ford – $200 billion (revolutionized the automobile industry with Ford Motor Company)
10. Cornelius Vanderbilt – $200 billion (railroad and shipping tycoon)
11. Jeff Bezos – $250 billion (Amazon founder, cloud computing dominance)
12. Mark Zuckerberg – $250 billion (Meta/Facebook founder, AI and metaverse investments)
13. Bernard Arnault – $200+ billion (CEO of LVMH, luxury goods empire)
14. Larry Ellison – $200 billion (Oracle co-founder, major shareholder in Tesla)
15. Bill Gates – $170 billion (Microsoft co-founder, philanthropic efforts)
16. Larry Page – $170 billion (Google/Alphabet co-founder, AI and tech investments)
17. Sergey Brin – $160 billion (Google/Alphabet co-founder, self-driving technology investments)
18. Steve Ballmer – $145 billion (former Microsoft CEO, major stockholder, sports team owner)
19. John Jacob Astor – $110-$168 billion (early American real estate and fur trade tycoon)
20. Genghis Khan – Unknown but vast (controlled the largest contiguous empire in history, wealth distributed among generals and armies)
21. Emperor Shenzong of Song China – enormous wealth due to overseeing a massive economy accounting for 30% of global GDP
22. Emperor Akbar I of Mughal India – Controlled 25% of global GDP at his peak, his treasury among the richest of his time