Emperor
The first Austrian Emperor was the last Holy Roman Emperor Francis II. In the face of aggressions by Napoleon, Francis feared for the future of the Holy Roman Empire. He wished to maintain his and his family's Imperial status in the event that the Holy Roman Empire should be dissolved, as it indeed was in 1806 when an Austrian-led army suffered a humiliating defeat at the Battle of Austerlitz. After which, the victorious Napoleon proceeded to dismantle the old "Reich" by severing a good portion from the empire and turning it into a separate Confederation of the Rhine. With the size of his imperial realm significantly reduced, Francis II, "Holy Roman Emperor" became Francis I, "Emperor of Austria". The new imperial title may have sounded less prestigious than the old one, but Francis' dynasty continued to rule from Austria and a Habsburg monarch was still an emperor ("Kaiser"), and not just merely a king ("König"), in name.
Roman emperor
The Western Roman Empire collapsed in the late 5th century. Romulus Augustulus is often considered to be the last emperor of the West after his forced abdication in 476, although Julius Nepos maintained a claim recognized by the Eastern Empire to the title until his death in 480. Following Nepos' death, the Eastern Emperor Zeno abolished the division of the position and proclaimed himself as the sole Emperor of a reunited Roman Empire. The Eastern imperial lineage continued to rule from Constantinople ("New Rome"); they continued to style themselves as Emperor of the Romans (later βασιλεύς Ῥωμαίων in Greek), but are often referred to in modern scholarship as Byzantine emperors. Constantine XI Palaiologos was the last Roman emperor in Constantinople, dying in the Fall of Constantinople to the Ottomans in 1453.