Beyond Royalty: India’s First Billionaire and His Lavish Collection of 50 Rolls Royce Cars

In India, we often come across familiar names like Mukesh Ambani, Gautam Adani, Shiv Nadar, and others, celebrated as India’s prominent billionaires and industrialists. Yet, there lies an intriguing tale about India’s first billionaire entrepreneur, one whose achievements and wealth surpass even the aforementioned magnates. Step back in time to meet Nizam Mir Osman Ali Khan of Hyderabad, the trailblazing figure who held the distinction of India’s inaugural billionaire.

Time Magazine’s February 22, 1937 edition celebrated Nizam Ali as the wealthiest man globally, a testament to his opulence. His immense fortune was said to exceed a staggering 3 billion rupees, an astronomical sum deposited in an English bank, signifying his financial prowess.

However, amid his immense wealth, Nizam Ali possessed an unassuming nature, embracing a frugal and modest lifestyle. Remarkably, his sleeping chamber rarely saw a cleaning more than once a year. Personal luxuries were not his indulgence, and even when hosting guests, a simple biscuit and cup of tea sufficed for entertainment.

Taking the reins of Hyderabad in 1911, Nizam Ali Khan continued as the Nizam until India’s independence on August 15, 1947, when Hyderabad merged with India. Throughout this period, he reigned as one of the world’s wealthiest individuals, amassing a colossal wealth estimated at approximately 230 billion US dollars, which translates to around 17.47 lakh crore rupees.

As a person of extraordinary means, Nizam Ali minted his own currency and even had his private airline. Gold holdings accounted for a striking 100 million pounds, accompanied by 400 million pounds worth of precious jewels. As a lavish wedding gesture, he bestowed upon Queen Elizabeth II a necklace adorned with 300 diamonds. Notably, Nizam Ali’s ownership of the Golconda diamond mines further bolstered his vast income streams.

Beyond his wealth, Nizam Ali’s reign exuded splendor, owning not just one but around 50 Rolls Royce cars, alongside an impressive collection of renowned diamonds such as the Koh-i-Noor, Hope Diamond, Darya-e-Nur, Nur-ul-Ain Diamond, Princie Diamond, Regent Diamond, and Wittelsbach Diamond.

Through the annals of history, Nizam Ali stood as a defining figure of his era, justifiably earning the distinction of India’s premier billionaire.

Early life of India’s first Billionaire: Nizam Ali Khan

Born in 1886 in Hyderabad, a princely state under British India, Nizam Ali Khan inherited a prosperous kingdom upon ascending the throne in 1911. His rule marked a period of economic prosperity, with Hyderabad gaining recognition for its opulence and grandeur. Under Nizam Ali’s astute administration, the state witnessed infrastructural advancements, including the construction of roads, railways, and public edifices.

One of Hyderabad’s key revenue sources was the renowned Golconda diamond mines, recognized for producing the world’s finest diamonds, including illustrious gems like the Koh-i-Noor and Hope diamonds. The Nizam’s control over these precious resources contributed significantly to his treasury’s wealth.

Beyond his political role, Nizam Ali Khan displayed an avid interest in the arts and culture. His patronage of artists, musicians, and poets elevated Hyderabad as a thriving center of artistic expression. The Nizam’s architectural acumen was showcased through magnificent palaces, notably the opulent Falaknuma Palace and Chowmohallah Palace, epitomizing his luxurious lifestyle.

Despite his extraordinary riches, Nizam Ali Khan remained an enigma of simplicity and modesty. Preferring a minimalistic lifestyle, he resided in the Chowmohallah Palace, eschewing extravagance. This humbleness extended to his choice of attire, often seen in unassuming garb, transcending the conventions of wealth.

Nizam Ali’s fame as India’s first billionaire reached its pinnacle when Time Magazine heralded him as the world’s wealthiest individual in its 1937 edition. His financial prowess surpassed global titans during his era, attesting to his unparalleled stature.

With the end of British rule and the dawn of independence in India, the tides of change swept across the princely states. The Nizam, initially contemplating independence, eventually acceded to India in September 1948 after Operation Polo’s events, leading to Hyderabad’s integration with India.

In the aftermath of accession, Nizam Ali Khan’s fortune saw transformational shifts, and his political influence diminished with the nation’s democratic reformation, impacting the privileges of princely states.

Passing away in 1967, Nizam Ali Khan left behind a legacy of riches, grandeur, and cultural patronage. His name reverberates through the annals of India’s rich history, etching a captivating chapter of a man whose life epitomized the pinnacle of wealth and power, eternally acclaimed as India’s first billionaire.