Mir Osman Ali Khan had an estimated fortune of $2 billion in the early 1940s, which would amount to about $36 billion in 2024. For context, Mukesh Ambani currently has a net worth of $105 billion.
Mukesh Ambani, Ratan Tata, Gautam Adani, Shiv Nadar, Narayana Murthy, Lakshmi Mittal are few of the names that pop up when talking about Indian billionaires. While Mukesh Ambani and Gautam Adani are currently the richest citizens of post-independence India, many might not know about the first billionaire of independent India, Mir Osman Ali Khan. Born in April 1886, he was the final Nizam of the Princely State of Hyderabad, the most extensive princely state in British-ruled India. He governed from 1911 until the annexation of Hyderabad by India in 1948.
Mir Osman Ali Khan, a supporter of the British, desired to either join Pakistan or maintain Hyderabad as an independent state during the partition. At the time, he was regarded as one of the richest individuals globally, with an estimated fortune of $2 billion in the early 1940s, which would amount to about $36 billion in 2024. For context, Mukesh Ambani currently has a net worth of $105 billion.
The Nizam, celebrated as the modern architect of Hyderabad, was responsible for India's first airport and airline. His reign saw significant advancements in the city's infrastructure, including road and railway development, as well as the introduction of electricity. He also played a key role in founding several public institutions like the Hyderabad High Court and the State Bank of Hyderabad.
In 1937, Mir Osman Ali Khan graced the cover of Time Magazine, highlighting his peak wealth. He was named as "The Richest Man in the World" by the magazine. According to reports, Nizam Osman Ali was the owner of 50 Rolls-Royce cars, including the Silver Ghost Throne Car. Reportedly, he owned the 185-carat Jacob Diamond worth over Rs 100 crore, which he used as a paperweight. During Queen Elizabeth II's wedding, he famously gifted her a diamond necklace and brooches, which she wore until her passing.
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