The First Three Nizams Lay The Foundation For The Wealth Of The Nizams

The immense wealth of the Nizams of Hyderabad was largely consolidated by the first three rulers of the dynasty. One of the reasons for this could be the fact that, most of the big and gorgeous diamonds from the Golconda mines in India, were mined during or before their reign.

FIRST NIZAM

Mir Qamar-ud-Din Khan (Asaf Jah I) the first Nizam of Hyderabad, ruled from 1724 to 1748 and was the founder of the Asaf Jahi dynasty, he was a powerful governor who declared independence from the Mughal Empire. He established a strong administrative system and ensured stable revenues through efficient land management and taxation.

The first Nizam's immense wealth came largely from Golconda, the world's premier diamond-producing region. Many famous diamonds, such as the Koh-i-Noor, Hope Diamond, the Seraphim Blue Diamond and the Regent Diamond, were mined there during or before his time.

Mir Qamar-ud-Din Khan or Asaf Jah I, is believed to have given a high degree of importance to the Seraphim Blue Diamond. He wore the diamond in his wore a sarpech (turban ornament). It is quite possible that the blue diamond adorned the center of the headgear along with, precious rubies and emeralds around it.

There are records of the highly prized Basra pearls in the possession of the first Nizam but, little doubt that the amazing Golconda diamonds outshone every other piece of opulence and luxury.

Much of the first Nizam’s treasure was inherited by his descendants. Some diamonds were gifted to Mughal emperors or taken by the British. Much of this is likely to have happened during the reign of the second or third Nizam of Hyderabad. The Nizam’s treasury remained one of the richest in the world for centuries, growing over time. The sarpech or headgear of the first Nizam along with the Seraphim Blue Diamond, was believed to have been inherited by the second Nizam.

SECOND NIZAM

Mir Nizam Ali Khan (Asaf Jah II) the second Nizam of Hyderabad ruled from 1762 to 1803. Much like the first Nizam, Mir Nizam Ali Khan or Asaf Jah II was also known for his love of diamonds, jewels, and luxury. Like his father, the first Nizam, he had access to the Golconda diamond mines, which produced some of the world's most famous diamonds.

While the second Nizam of Hyderabad was equally wealthy as the first Nizam, historians explain that a substantial portion of that wealth was acquired from the first Nizam.

Continuing to keep control over the Golconda diamond mines, the Nizam added some gorgeous diamonds to his collection. The diamonds in his collection included some massive uncut gems, which were later cut and sold to European royalty.

While some precious Golconda diamonds did exit the Nizam’s treasury during the reign of the second Nizam, it is often debated that not all those were actually ‘sold’ to the rich and powerful. Mir Nizam Ali Khan maintained political alliances by gifting diamonds to British and French officials, including the East India Company.

The sarpech (headgear) with the priceless Seraphim Blue Diamond that he inherited from the first Nizam, was believed to have been given to the French – this to gain their military support. Records do not mention if, that amounted to a diminishing status for the Nizams.

Needless to say that, the Nizam continued to be highly rated in terms of his wealth and prosperity. The Nizam’s treasures kept going as the desire for precious gems from across the globe grew, it was not just about local Golconda diamonds and exclusive Basra pearls from Hyderabad.

THIRD NIZAM

Mir Akbar Ali Khan Sikander Jah (Asaf Jah III) the third Nizam of Hyderabad ruled from 1803 to 1829. inherited vast wealth and an enormous collection of diamonds from his predecessors. His reign marked a continuation of the Nizams' extravagant lifestyle, where diamonds, gold, and pearls played a central role in their treasury and power. Some sources suggest that the Nizam’s wealth during this period rivaled that of European monarchs.

The reign of the third Nizam of Hyderabad also saw, a growing interest in jewelry – wearable luxuries that flaunted some of the rarest and precious gemstones and diamonds.

A Sarpech (turban ornament) encrusted with diamonds. Multi-layered diamond necklaces, some featuring uncut Golconda diamonds. Gem-studded belts, rings, and armbands with large diamonds and emeralds. These were just some of the valuable pieces added to the collection of the Nizams during the rule of Mir Akbar Ali Khan Sikander Jah, the third Nizam of Hyderabad.

History will remember that, the it was the first three Nizams of Hyderabad that laid the foundation for the dynasty's opulence and influence. Their strategic alliances, administrative policies, and wealth accumulation set the stage for a long-lasting and prosperous rule.

GROWING WEALTH

The immense wealth of the Nizams, can be assessed from an interesting event that occurred during the reign of the 7th Nizam, Mir Osman Ali Khan. Surrounded by wealth and a number of superb Golconda diamonds, the Nizam at one point used the big 184.75-carat Jacob Diamond, as a paperweight! The Nizam is likely to have overlooked the true value of the precious stone. Some stories also claim that he once kept the Jacob Diamond in in his shoe. Whether this was a habit or just a one-time event remains uncertain, but it highlights the Nizam’s casual attitude toward his enormous wealth.

The wealth of the Nizams kept growing and was further enhanced by Hyderabad’s strategic position as a center of trade, its control over the famed Golconda diamond mines, and its political alliances with the British and at times the French, which ensured stability and economic growth. By the time of later Nizams, especially the last ruling Nizam, Mir Osman Ali Khan (1911–1948), Hyderabad was considered one of the richest princely states in the world.