Back in 1937, TIME Magazine declared Mir Osman Ali Khan, the 7th Nizam of Hyderabad, to be the “richest man in the world”. Mir Osman Ali Khan, with a net worth of $236 billion (Rs 18 lakh 68 thousand crores), stood by the label, using a rare Jacob diamond — a 185-carat lime-sized gem (valued at Rs 1000 crores) as a paperweight and filling his garage with 50 Rolls-Royce cars, including the highly coveted Silver Ghost Throne Car.
However, the Nizam was not the only Royal who was regarded one of the world’s wealthiest at the time. An Indian Maharaja with a net worth of $400 million ($7 billion when adjusted for inflation) came in second place. This is almost equal to 57,901 crores.
That Indian Maharaja is Maharaja Krishnaraja Wadiyar IV, the 24th ruler of the princely state of Mysore.
Early Years and Education
Born on June 4, 1884, in the grandeur of Mysore Palace, Krishnaraja Wadiyar IV inherited a legacy of nobility as the son of Maharaja Chamarajendra Wadiyar X and Maharani Vani Vilas Sannidhana. His early education, a blend of Western studies, Kannada, Sanskrit, and the arts, set the stage for a transformative reign.
At the untimely demise of his father, Krishnaraja Wadiyar IV ascended the throne at a mere 11 years old, with his mother, Maharani Vani Vilas, acting as Regent until he turned 18 in 1902. Lord Curzon, the then Governor-General of India, lauded his capabilities, foreseeing marked development across various sectors.
The Golden Age of Mysore Begins
When Krishnaraja Wadiyar IV became the king, he had access to the royal funds. Interestingly, he used these resources to improve the Mysore economy, education, and public health.
In his early years as king, Krishnaraja Wadiyar IV made important changes. He made it a rule that untouchability was not allowed, and he stopped child marriages for girls under eight years old.
Additionally, he set up special scholarships for widowed girls and women, giving Rs 60 lakhs from his own money each year to help physically disabled children.
In 1915, he created the Mysore Social Progress Association to support the weaker sections of society. Three years later, the Maharaja asked Lesley Miller to look into the problems faced by backward classes and suggested that 25% of government jobs be reserved for non-Brahmans.
During his rule, Mysore achieved significant milestones. It became the first Indian state to produce hydroelectric power in Asia. In August 1905, Bangalore became the first Asian city to receive electricity, earning the Maharaja the title “Krishnaraja Bhoopa, Mane Mane Deepa” or the man who lit up every home in Mysore, as reported by Deccan Herald.
In 1915, Krishnaraja Wadiyar IV made primary education compulsory for everyone. By 1927, the royal family increased the budget for the state’s education system from Rs 699,000 in 1902 to Rs 4,680,000. At that time, there were 8,000 schools with 515,000 pupils in Mysore.
The state’s Sanskrit College, still present today, was funded by the Maharaja himself. It’s also believed that he gifted scientist Sir CV Raman 10 acres of land to establish an institution.
When he heard about Jamsetji Tata’s efforts to create a high-tech institute in the country, the Maharaja donated 400 acres of land near Malleshwaram for the project.
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A Multifaceted Maharaja
Because of his continuous efforts to improve the state, Mahatma Gandhi affectionately called Krishnaraja Wadiyar IV ‘Rajarshi’ (a combination of Raja and Rishi), a nickname that stuck.
Despite his commitment to governance, the Maharaja also found joy in various hobbies. He had a deep love for music and supported artists in Hindustani, Carnatic, and Western genres like Gauhar Jan, Abdul Karim Khan, and Barkatullah Khan.
The Maharaja was a versatile musician himself, playing instruments such as the violin, flute, sitar, veena, saxophone, mridangam, piano, and nadaswaram. Additionally, he sponsored Sri T. Krishnamacharya, a renowned yoga teacher and healer. Beyond his musical and philanthropic pursuits, the Maharaja expressed his creativity by writing poems in Kannada.
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The Net Worth
The Maharaja’s wealth, estimated at Rs 57,901 crores at the time of his passing in 1940, remains shrouded in mystery. Construction projects like the Krishna Raja Sagar dam, which began in 1911, showcased his strategic financial acumen. The Maharaja sold precious gems from his collection in Mumbai to fund the dam’s completion, demonstrating a resourceful approach to monumental endeavors.
While specifics about his assets, from the royal jewels to ownership of the iconic Mysore Palace, are scarce, Krishnaraja Wadiyar IV’s net worth solidified his status as one of the world’s wealthiest individuals during his time.
Positive Takeaway
Maharaja Krishnaraja Wadiyar IV left behind more than just a lot of money. His time ruling Mysore showed he was a great leader, cared about making society better, and supported the arts. Despite the challenges of being royalty, he wasn’t just known for being rich; he was like the architect of success and progress during Mysore’s golden era.
Looking back at Maharaja Krishnaraja Wadiyar IV’s life, we discover a fascinating story of a leader with big ideas. His wealth wasn’t just about money; it was about making a lasting impact on Mysore.
