Do you know who was India’s first billionaire? The tale of his immense wealth and grandeur is woven into history. He famously used a diamond worth $100 million as a paperweight. Mir Osman Ali Khan, the last Nizam of Hyderabad, is regarded as India’s first billionaire. Yet, despite his fortune, he was known for his frugality and simple lifestyle. He wore plain clothes and would offer guests nothing more than a biscuit and a cup of tea. Let’s read about him. 

Mir Osman Ali Khan’s wealth

On February 22, 1937, Time Magazine declared Mir Osman Ali Khan the world’s richest man. At that time, his wealth was estimated at $230 billion (Rs 17.47 lakh crore). In today's terms, his wealth would be approximately Rs 29,57,70 crore. He owned 50 Rolls-Royce cars and some of the world’s most renowned diamonds, including the Kohinoor and the Hope Diamond. While other rulers of his time may have had greater undeclared wealth, Mir Osman Ali Khan’s fortune is well-documented.

Mir Osman Ali Khan owned the Golconda diamond mines, which were the primary source of his immense wealth. In addition, he had a private airline, a vast gold reserve, and jewellery worth 400 million pounds. As a wedding present, he gifted Queen Elizabeth II a necklace featuring 300 diamonds. Serving as the Nizam of Hyderabad from 1911 to 1948, Mir Osman not only governed his state efficiently but also astonished the world with his extraordinary wealth.

Mir Osman Ali Khan’s simple lifestyle

While his simple lifestyle was widely known, Mir Osman Ali Khan also demonstrated great generosity with his wealth. Despite being considered frugal, he was quick to help those in need. The 300-diamond necklace he gifted to Queen Elizabeth II is a prime example of his generosity. In his time, he was regarded as one of the richest individuals in history. Stories of his wealth and luxury continue to fascinate people today. He owned some of the world's most famous diamonds, including the Nizam Diamond, Darya-i-Noor, and Regent Diamond.