The reign of the hereditary rulers of Hyderabad, India, who were commonly called the Nizam, lasted two centuries and was famous for its opulence, prosperity, and farsighted development.
His extravagant wealth, majestic palaces and expensive possessions have been etched in Indian history.
These are some of the richest rulers of Hyderabad from the Nizam dynasty, also known as the Asaf Jahi dynasty.
Asaf Jah
Mir Qamar-ud-din Khan, the first Nizam of Hyderabad, Siddiqi Bayafandi, also known as Asaf Jah, was born in 1802 and was a commander of the Mughal Empire.
The Asaf Jahi dynasty was formed by the Nizam in 1724, when autonomous control over the Deccan region was established. Later rulers were known as Asaf Jahi Nizams.
Their main source of income was Hyderabad's famous Golconda mines, which supplied diamonds to the world market.
Salar Jung I
The Indian aristocrat Sir Mir Turab Ali Khan, known as Salar Jung I, was prime minister of the state of Hyderabad from 1853 to 1883.
He had implemented several administrative reforms, including the establishment of modern educational institutions, railway and telegraph networks, and the restructuring of the judicial and tax systems.
During a trip to France and Rome, he collected rare sculptures and art found in the Salar Jung Museum.
Mir Osman Ali Khan Bahadur Asaf Jah VII
The wealth of Osman Ali Khan, who ascended the throne of Hyderabad at the age of 25 in 1911, represented 2% of the United States' GDP.
He also made money from the Golconda mines and had his own currency, a private airline, £400 million in jewels and £100 million in gold.
He also gave Queen Elizabeth II a necklace set with 300 diamonds and used a diamond worth millions as a paperweight.
His wealth in the 1940s was believed to exceed 17,000 million rupees, equivalent to more than two trillion Indian rupees in 2023.
Azmet Jah
Prince Mukarram Jah, the ninth and last formal Nizam of Hyderabad, is succeeded by his son Mir Muhammad Azmat Ali Khan.
Azmet Jah does not hold the title of Nizam IX because the Indian government abolished the titles in 1971, the financial express reported.
However, he had taken charge of the Nizam Trusts at his father's request, apart from other duties.
He inherited several palaces, including the famous Falaknuma Palace in Hyderabad and a 12 kg gold mohur, the heaviest gold coin ever produced.
According The wirethe government had paid his father a paltry sum of $22 million in 2002 for the jewel.
