Midas is the name of at least three members of the royal house of Phrygia.
The most famous King Midas is popularly remembered in Greek mythology for his capacity to turn everything he touched into gold. This came to be called the Golden touch, or the Midas touch. The Phrygian city Midaeum was most possibly named after this Midas, and this is probably also the Midas that according to Pausanias founded Ancyra.
According to Aristotle, legend held that Midas died of famine as a result of his "vain prayer" for the gold touch. The legends told regarding this Midas and his father Gordias, credited with founding the Phrygian capital city Gordium and tying the Gordian knot, indicate that they were believed to have lived sometime in the 2nd millennium BC well before the Trojan War. However, Homer does not mention Midas or Gordias, while instead mentioning two other famous Phrygian kings, Mygdon and Otreus.
King Midas was a really kind man who ruled his kingdom fairly, but he was not one to think very deeply about what he said. One day, while walking in his garden, he saw an elderly satyr asleep in the flowers. Taking shame on the old fellow, King Midas let him go without punishment. When the god Dionysus heard about it, he rewarded King Midas by granting him one wish. The king thought for only a second and then said I wish for everything I touch to turn to gold." And it absolutely was.
The beautiful flowers in his garden turned toward the sun for light, but when Midas approached and touched them, they stood rigid and gold. The king grew hungry and thin, for every time he tried to eat, he found that his meal had turned to gold. His beautiful daughter, at his loving touch, turned hard and fast to gold. His water, his bed, his clothes, his friends, and ultimately the whole palace were gold.
King Midas saw that soon his entire kingdom would turn to gold unless he did something right away. He asked Dionysus to turn everything back to the way it had been and get back his golden touch. Because the king was ashamed and very sad, Dionysus took pity on him and granted his request. Instantly, King Midas was poorer that he had been, but richer, he felt, in the things that really count.