Wealthiest Man In Bombay, Premchand Roychand, 1890 Photo
A rare 1890 photograph of Premchand Roychand, one of the wealthiest businessmen of 19th-century Bombay (Mumbai). Known by several nicknames, Cotton King, Big Bull, and Bullion King, Roychand was regarded as one of the “Four Business Kings of Bombay”. He was one of the legendary industrialists alongside Jamsetji Tata, David Sassoon, and Sir Jamsetji Jejeebhoy. Together, they shaped the financial and commercial framework of the rapidly developing colonial city of Bombay.
Premchand Roychand is most celebrated for founding the Native Share & Stock Brokers Association. The organization that evolved into today’s world-famous Bombay Stock Exchange (BSE). What makes his journey remarkable is its humble beginning—his first brokerage “office” was nothing more than a space under a banyan tree at the edge of Horniman Circle in South Bombay. From this simple setup, he built a financial empire that transformed the city’s trading landscape.
By 1865, during the height of the cotton boom, Roychand had amassed immense wealth and influence. His financial decisions could sway markets, and his reputation made him a central figure in Bombay’s business community. Many investors followed his guidance without question, impressed by his foresight and business acumen. His influence extended even to British administrators, earning him a formidable presence in the economic affairs of the city.
However, the end of the cotton boom and the failure of ambitious projects, most notably the Backbay Reclamation scheme, caused him severe financial losses. He lost a significant portion of his wealth, yet his resilience and sharp financial instincts helped him rebuild his fortune in the years that followed.
Beyond his business ventures, Premchand Roychand was also a respected philanthropist. His most famous contribution was a donation of Rs 2 lakhs in 1869 for the construction of the iconic Rajabai Clock Tower at the University of Bombay. Named in honor of his mother, Rajabai. The tower remains one of Mumbai’s most recognizable landmarks.
Premchand Roychand passed away in 1906, leaving behind a legacy deeply woven into the foundations of Mumbai’s financial and architectural history. His life story continues to inspire as an example of entrepreneurial brilliance, resilience, and generosity. Click image to enlarge.
Did you know – Premchand was known to possess unparalleled memory and never used pen and paper. He memorised all his trades instead of writing them down.
Past posts – Lake & House On A Serene Moonlit Night, 1944 Painting., Ooty’s Commercial Road During British Era, 1930 Postcard.
