Wealthy business figures associated with Viktor Orbán‘s regime are reportedly relocating their assets out of Hungary in anticipation of potential emigration, as Péter Magyar, the country’s incoming prime minister, indicated. Magyar, who achieved a substantial electoral victory over Orbán, shared on social media that individuals linked to the outgoing administration are transferring funds to countries such as the United Arab Emirates, the United States, and Uruguay, among others.
During Orbán’s 16 years in power, he and his Fidesz party centralised authority, appointing loyalists to critical positions within state institutions and favouring business associates with public procurement contracts and favourable decisions. This structure allowed many individuals within Orbán’s circle to accumulate significant wealth and influence. However, growing public discontent regarding corruption was a pivotal factor in Magyar and his party’s decisive electoral success.
In his social media communications, Magyar asserted that several oligarch families have already exited Hungary, with others withdrawing their children from educational institutions and securing trusted security personnel for their imminent departures. He specifically mentioned Lőrinc Mészáros, a former small-town gas fitter who became Hungary’s wealthiest individual under Orbán’s governance, and alleged that he plans to relocate to Dubai.
Despite winning with a strong mandate, Magyar may face challenges from personnel appointed by Orbán within state institutions. He has called upon Hungary’s tax and customs agency (NAV) and judicial authorities to take decisive action against the individuals surrounding Orbán before they can transfer their wealth abroad, ahead of the scheduled transition of power, expected in early May.
Magyar urged the Prosecutor General, the National Police Chief, and the head of NAV to detain those responsible for causing substantial financial harm to the Hungarian people and to prevent their flight to jurisdictions where extradition may prove difficult.
Additionally, Magyar reported that businesses connected to Orbán’s network are being sold at undervalued prices, including media assets such as TV2 and Lounge Event Kft, linked to Antal Rogán, previously recognised as Hungary’s “minister for propaganda.“ Both firms have denied these allegations. Magyar encouraged responsible domestic and international investors to refrain from acquiring assets associated with these individuals, emphasising that they may face repercussions from asset recovery officials in the future.
Meanwhile, Orbán has announced plans to resign from his parliamentary seat on Saturday. Investigative journalist Szabolcs Panyi has reported that “Viktor Orbán quits Hungary’s parliament after 36 years,“ confirming earlier reports suggesting that he plans an extended trip to the United States this summer, where his family members currently reside and where he may seek refuge from potential legal accountability.
