Musa Naghiyev

Musa Naghiyev (1849-1919) was an Azerbaijani industrial oil magnate in late 19th - early 20th century.

He was born into a very poor family near Baku and started working as a cargo carrier (hambal), but thanks to his natural wit and business abilities, he progressed to accumulate a vast amount of wealth. Musa Naghiyev was one of the richest oil industrialists in Baku, excluding Nobel brothers. His assets were worth 300 million rubles. Later, he began investing in real estate so as to guarantee himself a source of regular income and became the largest rental property owner in Baku owning more than 200 buildings.

He was considered in Azerbaijan as one of the most stingy, tight-fisted millionaire. However, despite all these stories, it was Agha Musa Naghiyev who built one of the most wonderful palaces in the entire city and offered it as a gift to the Muslim Charity Society. This palace, modeled on Doge's Palace in Venice now houses Presidium of Academy of Sciences of Azerbaijan.