When thinking of the richest man in the world, names such as Elon Musk, Gautam Adani, Mukesh Ambani, and Jeff Bezos often come to mind. But what if we tell you that Mir Osman Ali Khan, the last Nizam of Hyderabad, was also known as the world’s richest man? He was famous for his immense wealth and luxurious lifestyle. Indeed, the distinction of being India's first billionaire belongs to a ruler whose unparalleled wealth and extraordinary lifestyle continue to captivate historians.
Nizam Mir Osman Ali Khan ruled Hyderabad from 1911 until its merger with independent India in 1948.
His extraordinary riches earned him the title of “The Richest Man in the World” by Time magazine in its February 22, 1937, edition. Among his assets were gold valued at 100 million pounds, jewels worth 400 million pounds, and ownership of the highly profitable Golconda diamond mines.
Although his fortune was estimated at USD 230 billion (around Rs 17.47 lakh crore today), the Nizam was known for his remarkable stinginess. He reportedly used a Rs 100 crore diamond as a paperweight and preferred simple, unadorned attire.
According to the media report, his bedroom was said to be cleaned just once a year.
The Nizam’s hospitality reflected his frugal nature.Despite his immense wealth, guests were typically offered nothing more than a single biscuit and a cup of tea. However, his personal possessions were nothing short of extravagant. He owned a fleet of 50 Rolls-Royce cars, including the iconic Silver Ghost Throne Car, and gifted Queen Elizabeth II a necklace featuring 300 diamonds for her wedding. Among his prized treasures were legendary gems like the Koh-i-Noor, Hope Diamond, Darya-e-Nur, Nur-Ul-Ain, Princie, Regent, and Wittelsbach diamonds.
