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This man, once world's richest, much wealthier than Mukesh Ambani, Ratan Tata, owned Rs 1350 crore diamond, still smoked..., name is..
One of his most priceless possessions was the 85-carat Jacob Diamond, which is estimated to be worth Rs 1350 crore today. However, despite being the owner of such extraordinary wealth, Mir Osman Ali Khan lived a frugal lifestyle.
Updated : Jun 18, 2025, 04:35 PM IST | Edited by : Riddhima Kanetkar
 "This man, once world's richest, much wealthier than Mukesh Ambani, Ratan Tata, owned Rs 1350 crore diamond, still smoked..., nam")
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Mukesh Ambani, the late Ratan Tata, Gautam Adani, and Kumar Mangalam Birla are a few names that come to mind whenever India's wealthiest people are discussed. However, there was one man who trumped them all in terms of wealth. Mir Osman Ali Khan, the seventh Nizam of Hyderabad, holds the title of being the wealthiest Indian of all time, adjusted for inflation. Mir Osman Ali Khan, the Nizam of Hyderabad, ruled for 37 years from 1911 to 1948, during which he amassed an estimated wealth of nearly Rs 17.47 lakh crore (approximately $230 billion).
Mir Osman Ali Khan owned gold worth over $100 million and jewelry valued at $400 million. One of his most priceless possessions was the 85-carat Jacob Diamond, which is estimated to be worth Rs 1350 crore today. However, despite being the owner of such extraordinary wealth, Mir Osman Ali Khan lived a frugal lifestyle.
In the book Freedom at Midnight, written by Dominique Lapierre and Larry Collins, it is mentioned how the Nizam did not like to spend a fortune on himself. The book mentions how Mir Osman Ali Khan used to collect the cigarette stubs left by guests and smoke them. Mir Osman Ali Khan also wore the same cap for 35 years and never got his clothes ironed. He used to eat his food from old tin plates despite having golden utensils, enough to serve over 100 people.
Journalist Luke Harding, in 2001, said, "A frail, tiny man, and a devout Muslim, he was notorious for his meanness — he wore the same tattered fez for 35 years, dressed in rumpled cotton pyjamas, and ate all his meals off a tin plate while sitting on a mat in his bedroom surrounded by overflowing wastepaper baskets. But he was also, back then, the richest man on the planet," as quoted by The Guardian.
Mir Osman Ali Khan passed away in 1967 at the age of 80.
