Chicago – April 27, 2024
Nawab Mir Osman Ali Khan (born April 6, 1886, Hyderabad, India—died February 24, 1967, Hyderabad) was the nizam (ruler) of Hyderabad princely state in India in the period 1911–48 and its constitutional president until 1956. Once one of the richest men in the world, he ruled over a state the size of Italy.
After a private education, Osman Ali Khan succeeded his father, Maḥbūb ʿAlī Khan, the sixth nizam, on August 29, 1911. Encouraging financial reform, he led the state of Hyderabad to an enviable credit position; it issued its own currency notes and coins and acquired ownership of a major railway network. In 1918 he patronized the founding of Osmania University, Hyderabad. Osman Ali Khan governed Hyderabad until he eventually signed an accession, leading to the liberation of the state from Nizam rule. Recognized as one of the world’s wealthiest individuals, his riches accounted for 2% of the United States GDP. The primary revenue stream for the Nizam emanated from the Golconda mines, exclusively owned by him, which served as the sole supplier of diamonds during that era.
Richest Man during his life
Time Magazine featured him on its cover in 1930s titled Richest man Alive 7th Nizam of Hyderabad Mir Osman Ali. He is still the 5th richest man many years after his death.
Contrary to opulent displays, this Nizam was known for his simplicity in attire and a preference for unassuming social gatherings, as per media reports. Operating his currency, he possessed a staggering 100 million pounds of gold, and 400 million pounds worth of jewels, and even owned a private airline. Notably, he bestowed upon Queen Elizabeth II a necklace adorned with 300 diamonds as a wedding gift. She wore those jewels religiously during her official celebrations.
Mir Osman Ali Khan’s lifestyle included unconventional practices such as using a Rs 1000 Crore diamond as a paperweight and amassing a collection of 50 Rolls-Royce cars, illustrating the lavishness that characterized his life.
During his reign, Nizam Ali’s fortune was estimated to be around Rs 1700 crore in the early 1940s which in 2023 converts to around Rs 29,57,70 crore as quoted by a renowned media organization. He was given the title of His Exalted Highness (HEH) from the British Government.
Funding and support to Muslims and Hindus
The Nizam donated Rs. 82,825 to the Yadagirigutta temple at Bhongir, Rs. 29,999 to the Sita Ramachandraswamy temple, Bhadrachalam and yearly donation of Rs. 8,000 to the Tirupati Balaji Temple. He also donated Rs. 50,000 towards the reconstruction of Sitarambagh temple located in the old city of Hyderabad, and bestowed a grant of 100,000 Hyderabadi rupees towards the reconstruction of Thousand Pillar Temple.
He also donated 1,525 acres of Land to “Sita Rama Swami Temple” located in Devaryamjal. After hearing about the Golden Temple of Amritsar through Maharaja Ranjit Singh, he started providing it with yearly grants. The Nizam provided substantial funding for the restoration of Masjid Al-Aqsa(one of the three holiest sites in the Islamic world). Additionally, he contributed greatly to the creation of waqfs (Muslim endowments) in Palestine and supported the renovation and restoration of a hospice named Zawiyah Hindiyya.
Family Life
His first son Nawab Azam Jah married Durru Shehvar, (daughter of the Ottoman caliph Abdul Mejid II), while his second son Nawab Moazzam Jah married Niloufer, (a niece of the Ottoman sultan). He supported the last caliph Abdulmejid II, who was having financial difficulties while abroad. The defeat of the Ottoman Empire in World War I and the occupation of Istanbul by the Allied Forces on March 16, 1920 were met with sadness in the Hyderabad region. The The Hyderabad Red Crescent Society performed an important function in the process of conveying information of the problems of Abdulmejid (the last ottoman caliph). The 7th Nizam then announced a stipened of 3000 pounds for his family. This is how Adbdulmejid’s daughter Durru Shehvar became his daughter in law. Their wedding was a grand affair where royals and businessmen from all over the world were in attendance.
Azam Jah and Durru Shehvar had two sons, Mukarram Jah and Muffakham Jah, with the former succeeding his grandfather as the de jure Nizam.
Credits- Prof. Hameed Ullah France University,Mr. Khan and other notable authors
