This was India’s first billionaire who gave Queen Elizabeth II a diamond necklace, now worn by Kate Middleton

In a time when billionaires were almost unheard of, Mir Osman Ali Khan, the last Nizam of Hyderabad, stood out as one of the wealthiest people in the world. Ruling Hyderabad from 1911 to 1948, he was considered India's first billionaire, with an estimated net worth of around Rs 1,700 crore in the 1940s, a massive fortune back then.

Mir Osman Ali Khan was known not just for his wealth but also for his loyalty to the British. During World War I, he made generous financial contributions to support British efforts and was awarded the title "Faithful Ally of the British Crown." His friendly ties with the royal family became even more evident in 1947 when he gifted a stunning diamond necklace to Princess Elizabeth as a wedding present for her marriage to Prince Philip.

Since the Nizam couldn’t attend the wedding himself, he instructed the famous jeweller Cartier to let Elizabeth choose any jewellery she liked from their collection. The young princess chose two pieces: a diamond necklace and a tiara, both showcasing elegant English rose-inspired designs. Crafted in platinum and made in 1935, the necklace features around 300 diamonds, including geometric shapes set in an abstract floral pattern.

This necklace soon became one of the Queen’s favourite pieces. She wore it for official royal engagements, and even posed wearing it for a portrait just before becoming Queen. According to royal jewellery expert Hugh Roberts, the original design from 1937 included several diamond drops. However, nine of them were later removed to design a head ornament, resulting in the final version we see today.

Decades later, in 2014, the necklace made headlines again when Queen Elizabeth II loaned it to Kate Middleton, the Princess of Wales. Kate wore it during a visit to the National Portrait Gallery, pairing it beautifully with a deep blue silk gown designed by Jenny Packham. This royal heirloom continues to shine as a symbol of history, elegance, and timeless craftsmanship.