Mir Osman Ali Khan, Asaf Jah VII ruled the state of Hyderabad in southern part of India from 1911 to 1948, until it was merged into India.
His tyrannical rule evoked frequent revolts within the state and he tried to avert merger with the newly-independent Indian State by triggering Razakars (militia) who went on a spree of riots killing local people.
Though the Nizam was subdued later in the Police Action, his wealth still remained in tact with his successors still fighting for the booty.
In the 1940s, he was reputed to be the richest man in the world, having a fortune estimated at US$2 billion or twice the entire wealth of India put at $1 billion in 1948. Featured on the cover of TIME magazine, he remained the richest Asian until his death in 1967. His wealth, however, eroded to half the size by 1967.
His coffers reportedly contained $130 million in gold and silver bullion, and $600 million worth jewelry. The rare Jacob diamond, valued at some $130 million and used as a paperweight by him was just an instance of his wealth assiduously pooled over a long period.
This is beside hundreds of race horses, dozens of Rolls-Royces and the famous Hyderabad House in Delhi, now used for diplomatic meetings by the Government of India.