India’s first billionaire gave Queen Elizabeth II a necklace with 300 diamonds for her…, it was worth Rs…, his name was…no connection with Mukesh Ambani, Ratan Tata
In a time when billionaires were almost unheard of, Mir Osman Ali Khan, the last Nizam of Hyderabad, stood out as India’s first billionaire. His wealth in the 1940s was estimated to be around Rs. 1,700 crore—a huge sum back then. He was known not only for his riches but also for his close relationship with the British, earning the title “Faithful Ally of the British Crown” for helping financially during World War I.
One of his most memorable acts of generosity was a wedding gift to Queen Elizabeth II when she married Prince Philip in 1947. Unable to attend the ceremony himself, the Nizam asked the luxury jeweller Cartier to let the young princess pick any piece she liked. Elizabeth chose a dazzling necklace and a tiara, both sparkling with diamonds and designed with a touch of English rose inspiration.
It is believed that she sat down with Cartier to design it after they were given strict instructions to let her creativity run wild. She selected each intricate detail to ensure they were to her liking. The necklace, crafted in 1935, features nearly 300 diamonds, all set in platinum, and showcases a unique floral design with geometric touches. Before she became queen, Elizabeth wore the necklace in an official portrait that remains iconic today.
The late Queen Elizabeth II was known for an keen eye for jewellery and curated an extensive enough to be shared among Royal Family members, securely housed within the Royal Collection.
Jewellery expert Hugh Roberts, in his book The Queen’s Diamonds, noted that the necklace’s original design was slightly different. It once had more diamond drops, which were later removed to create a head ornament. The final version of the necklace came together in 1936.
Years later, in 2014, Kate Middleton, the Princess of Wales, wore this historic necklace for a special appearance at the National Portrait Gallery. She styled it with a beautiful ink-blue gown by Jenny Packham, giving the royal heirloom a modern touch while carrying forward its rich history.
According to Daena Borrowman, Marketing Manager at Jewellerybox, the Nizam of Hyderabad Necklace is believed to be the most valuable royal necklace in the world, with an estimated worth of over £66 million (i.e. Rs. 694 crore in today’s time). Speaking to The Mirror, she highlighted the necklace’s historical and monetary significance, calling it a remarkable wedding gift to Princess Elizabeth from the Nizam of Hyderabad, who was once among the wealthiest individuals on the planet.
On July 21, 2022 the official Instagram account of The Royal Family shared a special post featuring the Nizam of Hyderabad Necklace—a treasured piece from the royal jewellery collection. The post included two images of Queen Elizabeth II wearing the dazzling diamond and platinum necklace, along with a close-up shot showing its intricate craftsmanship. The final photo highlighted Catherine, the Duchess of Cambridge, wearing the same necklace, showcasing how it continues to be cherished by the royal family across generations.
The first image was a historic portrait of the Queen taken just days after she ascended the throne in February 1952. Dressed in a Hartnell satin evening gown and adorned with the Order of the Garter insignia, this portrait became one of the most iconic representations of Her Majesty and was later used as the basis for her image on postage stamps.
Queen Elizabeth II, who ascended the throne in February 1952, died on September 8, 2022 at the age of 96. “The Queen died peacefully at Balmoral this afternoon. The King and The Queen Consort will remain at Balmoral this evening and will return to London tomorrow,” the Royal Family tweeted.
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