Nizams were the rulers of Hyderabad from 1724-1948 for around 224 years until Hyderabad was liberated after the independence of India. Nizams are known across the world for their royal lifestyle and immense wealth. According to East India Company, Mir Osman Ali Khan, the last of the Nizams, was the first and richest billionaire of India. Nizam Mir Osman was known for his lavish lifestyle and has an estimated net worth of around USD 230 billion. Osman Ali Khan became the Nizam of Hyderabad in 1911 when he was just 25. Osman Ali Khan remained the Nizam of Hyderabad until he was forced to sign an accession by Indian government after independence.
According to Times magazine, Nizam Osman Ali was once the richest person in the world and he had wealth worth 2% of US GDP. Nizam’s biggest source of income was Golconda mines, which was the only supplier of diamonds at that time.
In 1914, Nizam also helped the British with material, military, and financial support during the First World War. Nizam Osman Ali played an important role in establishing Osmania University. Nizam Osman Ali, however, preferred to wear simple clothes and did not clean his bedroom daily. Nizam Osman Ali had his own currency and possessed 100 million pounds of gold, 400 million pounds of jewels. Nizam was the first Indian to own private airline. According to reports, Mir Osman Ali Khan used a diamond worth Rs 1000 crore as a paperweight and was the proud owner of 50 Rolls-Royce cars.
According to reportds, Nizam Ali’s fortune was around Rs 1700 crore during his reign which in 2023 converts to around Rs 2,95,770 crore. This means that Nizam Osman was much richer than business tycoons Mukesh Ambani, Gautam Adani and others.
