India’s rich tapestry of history is interwoven with tales of monumental wealth and grandeur, but perhaps none so staggering as the account of His Exalted Highness, Nizam Mir Osman Ali Khan, the last sovereign of the princely state of Hyderabad. In his prime, the Nizam’s net worth ballooned to a mammoth Rs 1,910,987 crore, which is approximately $230 billion when adjusted, categorically placing him as India’s premier billionaire, a status acknowledged even by the colonial administration of the East India Company.
The title of the richest person was not merely for show, as historical accounts from Time magazine suggest that his fortune once equated to 2% of the entire GDP of the United States. The Golconda Mines were the marquee contributors to his substantial wealth, serving as the world’s exclusive diamond supply during his dominance.
The Nizams, who ruled Hyderabad from 1724 to 1948, spanning seven generations, were much more than mere rulers. They epitomized an era of sophistication, cultural renaissance, and extravagant wealth that outlasted many of their contemporaries. Osman Ali Khan’s penchant for luxury was reflected vividly in his lifestyle—known for suiting up an impressive fleet of 50 Rolls-Royce cars and treating a 1000 crore diamond as a paperweight!
He was a man whose personal treasury included assets like a lavish private air service, a trove estimated to contain 400 million pounds in jewels, and another whopping 100 million pounds of gold. The depth of his wealth becomes clearer when considering the precious stones he owned, such as the legendary Koh-i-Noor, Hope Diamond, Darya-e Nur, Nur-Ul-Ain, Princie Diamond, Regent Diamond, and the Wittelsbach-Graff Diamond.
Interestingly, the Nizam’s vast treasure contrasted sharply with his personable demeanor and frugal personal habits. Many would remember him not for the gems he owned, but for his humble clothing choices and idiosyncrasies like cleaning his sleeping quarters just once every year. Beyond all his possessions, one of the simpler things in life that brought him joy were the Osmania biscuits, a delicacy originating from the Vicaji Bakery. His taste for these biscuits was so profound that it influenced the daily dispatch of a van from Hazari Bagh to retrieve a fresh batch, ultimately intertwining his name with these popular confections.
Journalist and historian Syed Akbar recounts, “The Nizam’s fondness for these biscuits was such that they became an integral part of his daily routine, an anecdote that offers a glimpse into the life of a man synonymous with magnificence.”
On February 24, 1967, the era of Nizam Mir Osman Ali Khan reached its somber conclusion when he passed away at the age of 80. He was interred at the Masjid-e-Judi located within the King Kothi complex, a starkly modest tomb for a man of such stature.
Through times of turbulence and change, the legacy of Hyderabad’s late Nizam has persevered in the annals of history, painting a portrait of a sovereign who masterfully balanced the scales of unrivaled riches and commonplace frugality. His life was a testament to the fact that even among emperors hailed for their boundless wealth, sometimes, the simplest pleasures, such as the taste of a biscuit, can define a legacy.
