50 Rolls Royce cars & Rs 1,000 crore diamond: The remarkable life of India¡¯s first billionaire

The number of millionaires and billionaires in India is on an upward trend. Everyday we read an inspiring story of some businessman or the other, making it big. Can you imagine a time when wealth wasn¡¯t so easily attainable and only a handful of people could afford an extravagant lifestyle?

Who was India¡¯s first billionaire?

Mir Osman Ali Khan, the final ruler of Hyderabad, is known as India's inaugural billionaire due to his wealth totaling Rs 19 lakh crore ($230 billion). Notably, the East India Company acknowledged him as India's foremost and wealthiest billionaire.

According to Time Magazine, Nizam Osman Ali's vast wealth at the time equaled approximately 2% of the US GDP. The report asserted that Nizam Osman Ali was considered the richest individual on the planet. He was also the last Nizam of Hyderabad.

Deccan Heritage Foundation

50 Rolls Royce cars to Rs 1000 crore diamond, Nizam Ali garnered humongous wealth as he was the sole supplier of diamonds in India at the time

Nizam Mir Osman Ali Khan's immense wealth primarily stemmed from the Golconda Mines, the exclusive supplier of diamonds in India and perhaps the entire world. He famously owned 50 Rolls-Royce cars and possessed a Rs 1000 crore diamond, which he reportedly used as a paperweight, as per a report by DNA.

Additionally, Nizam Ali owned a private airline, amassed a collection of 400 million pounds worth of jewels, and possessed 100 million pounds of gold.

Nizam Osman Ali was also the proud owner of famous diamonds, including the Koh-i-Noor, Hope, Darya-e Nur, Nur-Ul-Ain, Princie, Regent, and Wittelsbach.

Also Read: Forbes Richest List 2024: India Adds 25 New Billionaires, From Ambani To Adani Check Full List Here

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He founded Osmania university in 1917 and also contributed towards development on Hyderabad

Three years after assuming the throne in 1914, the First World War began. According to reports from Outlook, he provided substantial material, military, and financial aid to the British. He was instrumental in the founding of Osmania University in 1917, which remains esteemed as the state's first institution of its kind and a leading center of learning. In 1921, as reported by Outlook, he pioneered the implementation of judicial and executive separation. He established a board responsible for supervising the construction and renovation of various public structures, significantly shaping the modern development of Hyderabad

Despite all the wealth, Ali was said to be a miser who used to clean his bedroom only once a year

Even with all those riches, Nizam Osman Ali Khan was known to be frugal and unconcerned about cleanliness. According to reports, he would clean his bedroom only once a year. Additionally, despite his riches, he was famously stingy when it came to treating his guests, reportedly serving only biscuits.

Nizam Osman Ali Khan passed away on February 24, 1967, at the age of 80, and he was laid to rest at Masjid-e-Judi at King Kothi.