He is widely believed to have remained as the richest man in South Asia until his death in 1967.
The former Nizam had more than 50 Rolls-Royce cars, and claimed to use the famous Jacob Diamond as a paperweight in his office.
When he inherited the throne in 1911, the kingdom's treasury was almost empty because of his father's extravagant lifestyle.
In his 37 years of rule, he put the state's finances back on track and acquired fabulous personal wealth.