Tuesday, March 30, 2010

Nizam on Time Magazine

On all time richest people on earth Osman Ali Khan, Asaf Jah VII stood 5th in the world. Peak wealth: $210.8 billion. Age at peak wealth: 50, ASAF JAH VII (whose given name was Osman Ali Khan Bahadur) was the last Nizam or ruler of the Princely State of Hyderabad and Berar, before it was annexed by Indian Union in 1948.
By most accounts, "His Exalted Highness" the Nizam of Hyderabad was a benevolent ruler who promoted education, science and development. He spent about one-tenth of his Principality's budget on education, and even made primary education compulsory and free for the poor. In his 37-year rule, Hyderabad witnessed the introduction of electricity, railways, roads, and other development projects.
In 1937, Asaf Jah VII was on the cover of Time Magazine, labeled as the richest man in the world.