Augustus
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Octavian defeated Marc Antony in the battle of Actium.
Octavian, as Caesar's heir, called himself Caesar, became a Triumvir with Marc Antony and Lepidus - they split the empire amongst themselves, Antony taking the east, Lepidus palmed off with North Africa, and Octavian the west. Civil war ensued, and after he had defeated Antony at Actium, Octavian set himself up as First Citizen and kept control of the army and frontier provinces so that no challenger could bring on more civil war. Looking for a title, and determined to avoid the label of kingship which had brought the knives out against Julius, called himself Augustus.
There was no such title as Emperor. He called himself Princeps or First Citizen, and governed indirectly by pulling strings to manipulate elections and decisions. The period of him and his successor Princeps is known as the Principate. In the 3rd Century CE when rule became openly autocratic we invented the word Emperor (the word is derived from the military honorific title Imperator and the magistrate's power of imperium) to describe a despot of an empire.In 27 BCE he declared himself Princeps, took on the powers and immunity of a tribune of the plebs inside Rome, the authority of a pro-magistrate outside Rome, and contol of the provinces with legions to keep them out of the hands of potential rivals. Even with this camouflage, he was sufficiently mindful of what happened to his adoptive father Julius Ceasar and wore a cuirass under his toga when he announced all this in the Senate.
No, the first emperor of Rome was Octavian, who called himself Augustus Caesar. He was the nephew of Julius Caesar, who was the first Dictator for Life.
The Roman Republic had become corrupt and weakened by bloody civil wars, power plays, political in-fighting, and dissatisfaction with the Senate. These all led to the decline of the Roman Republic.