Osman Ali Khan to Azmat Jah: Meet the richest Nizams of India who owned palaces and used diamond as paper weight

financialexpress.com:

The two centuries reign of the Nizams in India was synonymous with immense wealth, luxury, and visionary development. Their ridiculous amount of wealth, larger-than-life palaces, and pricey possessions have been carved into the pages of history. Qamar Uddin Khan, who started the Nizam dynasty in India, which was called the Asaf Jahi dynasty, which had some of the wealthiest rulers and has been some of the most successful times in terms of economic, and cultural growth.

In 1911, at the age of 25, Osman Ali Khan ascended to the throne and ruled Hyderabad until he signed an accession and emancipated the state from Nizam’s rule. He is one of the richest persons in the world, and his wealth made up 2% of the US GDP. The Golconda mines, which the Nizam owned and controlled as the only supply of diamonds at the time, were his main source of wealth.

According to reports, this Nizam preferred to keep social gatherings understated and wore plain clothing. Various reports claim that he had his own currency. He owned a private airline, 400 million pounds of jewels, and 100 million pounds of gold. As a wedding gift, the Nizam gave Queen Elizabeth II a necklace set with 300 diamonds. A few examples of the luxurious lifestyle that Mir Osman Ali Khan led include using a Rs. 1000 crore diamond as a paperweight and owning 50 Rolls-Royce vehicles. Early in the 1940s, Nizam Ali’s wealth was believed to be over Rs 1700 crore, which, as per sources, will be equivalent to about Rs 29,57,70 crore in 2023.

The ninth and final formal Nizam of Hyderabad, Prince Mukarram Jah, passed away on January 17, and his son Mir Muhammad Azmat Ali Khan succeeded him as the new Nizam. Azmet Jah will not hold the title of Nizam IX because the Indian government