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The richest man in the world In 1936. Mir Osman Ali Khan, the seventh Nizam of Hyderabad. He ruled Hyderabad between 1911 and 1948 until it was merged into India. He is renowned not only for his vast wealth but also for his frugality. The richness of his treasury was, in fact, legendary. So much so that he used the Jacob diamond, a 185-carat gem the size of a lime, as a paperweight.
He is also known for his refusal to join the Indian union. In 2008, Forbes magazine listed the Nizam as the “fifth all-time wealthiest” person with a net worth of $210.8 billion, while Time magazine called him the richest man in the world in 1937.
Nizam Mir Osman Ali Khan
Richest Nizam used to smoke the cheapest brand of cigarettes. He bought less and ate more than the guests who came to him. Also, he used to sew his own clothes with his own hands. The tailor did not get any money. The teenagers of the house had to change their clothes and wear them again. New clothes or shoes would not enter the house unless they were torn or torn.
A stingy man like him, no one around him saw. He used to go out on the street, eat at the shop and quarrel with the shopkeeper over the price. None of his comrades can ever think of receiving a quarter of a bounty.
The former Nizam had more than 50 Rolls-Royce cars and claimed to use the famous Jacob Diamond as a paperweight in his office. At present, its price is more than a thousand crore rupees. Yet the man had an oddly modest appearance — wearing the same tattered fez for 35 years and mostly cotton pajamas. Of course, he had his indulgences — the nizam had a prodigious sexual appetite, and it is said, had more than 100 illegitimate children.
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The Richest Man In The World
His life was very ordinary. But this ordinary man had an incredible amount of wealth. He was the richest man in the world when he was Nizam. Mir Osman Ali khan sent a diamond necklace worth crores of rupees to Elizabeth’s wedding. Which is still known as ‘Nizam Necklace’ in Rani’s collection. Yes, this ultimate thrifty man was once the richest man in the world.
Sir Mir Osman Ali Khan Siddiqui, the last Nizam of the state of Hyderabad and Berar in undivided India. The state was the largest state in subjugated India. Adding Scotland and England, the size of the then Hyderabad and Berar states was even larger. The Nizam ruled with a population of 18 million and a land area of 82,898 square miles. Nizam’s picture appeared on the cover of the February 22, 1936 issue of the world-famous Time magazine. Below was the caption, The richest man in the world.
Fortune magazine valued his assets at two billion US dollars in the 1940s. At present, its value is less than four billion US dollars. The value of the money is about 29845 crore rupees. He was the richest man in the world and was considered the richest man in South Asia from 1930 to 1950, until his death in 1986.
Nizam’s Contribution To British Exchequer
The Nizam family had ruled Hyderabad since the early 18th century, yet he was the only ruler in British India who enjoyed the title of Exalted Highness owing to his contribution of £25 million to the British exchequer during the First World War. And a few days ahead of India’s independence, he deposited an amount of 1 million in his account at the Westminster Bank in London. The money remained untouched for nearly 71 years and accumulated to about 35 million or 306 crores as valued in 2019 when a British judge finally ruled for the Nizam’s descendants to collect it from London’s National Westminster Bank.
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Sir Mir Usman Ali Khan Siddiqui, the last Nizam of the independent state of Hyderabad and Berar in British India, ruled the state from 1911 to 1947. Wanted to turn the state into a state. Did not want to take the state under India or Pakistan. Nijam wanted to be an independent state with India and Pakistan. Chowdhury Rahmat Ali gave the name ‘Usmanistan’. But the Indian government rejected Nizam’s decision. But he was nascent for his own separate independent state. The Indian Army failed to negotiate a table with the Nizam. The Indian Army attacked Hyderabad on 13 September 1947. A division of the Indian Army and a tank brigade under Major General Jayant Chowdhury attacked Hyderabad. The attack was code-named ‘Operation Polo’.
It was not possible for the Nizam’s 5,000 troops to repel the ground and air attacks of India’s trained army. So the Nizam accepted the rate in a few hours. His states of Hyderabad and Berar entered the map of India. After its incorporation into India, Nizam Mir Usman Ali was inaugurated as the Head of State of Hyderabad on 25 January 1950. He held the post till October 31, 1956.
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Nizam’s Grant To India
India created the National Security Fund to save. The then Prime Minister of India Lal Bahadur Shastri was in Hyderabad. He requested the Nizam to donate something to the National Security Fund of India. The stingy Nizam listened to everything. According to popular lore, Nizam Osman Ali donated 5000 kg of gold to the National Security Fund of India.
The five tonnes of gold donated by the Nizam in 1975 is still the largest donation to the Indian exchequer.
This man spent 11% of his princely state budget on education. Primary education was compulsory. There was also free education for the poor. He has given huge sums to various educational institutions in India and abroad. He used to send money as a grant. Among them were Jamia Nizamia Darul Uloom Deoband, Aligarh Muslim University, and even Benares Hindu University. The Osmania University created by him is one of the largest universities in India.
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Nizam’s Deccan Airways
Nizam also had a hobby of flying. He founded the Hyderabad Arrow Club and Begumpet Airport in 1930. The national and international flights of Nizam’s Deccan Airways, the first commercial airline of British India, flew in the sky from this airport.
Popular Lore About Nizam
Nizam Mir Usman Ali Khan Siddiqui, the richest and most saving man in the world. He has a very famous short story of frugality
Trunks loaded with 5000 kg of gold coins donated to the Indian Security Fund while being loaded into vans.
The standing Nizam frowned and told his own officers, “I have only donated five tons of gold coins.
Not the trunks. So make sure they come back to me. “