Hungarian Prime Minister Viktor Orbán
Magyar’s victory is leading many oligarchs close to Orbán to hastily transfer their fortunes to tax havens.
Hungary is going through a drastic political transformation following the electoral defeat of Prime Minister Viktor Orbán, whose 16-year rule came to an abrupt end earlier this month.
Behind the scenes, the transition triggered a series of movements among Orbán’s closest allies. According to reports, several figures linked to the ruling Fidesz party began to transfer significant portions of your assets to abroad. Private jets departing from Vienna would be transporting assets accumulated during Orbán’s term, while others would be redirecting investments to countries such as the United Arab Emirates, Saudi Arabia and Singapore.
An American source says that several oligarchs are also applying for work visas to the US, hoping to find a job in institutions linked to the Republican Party and the MAGA movement.
These events follow the victory of opposition leader Péter Magyar and his Tisza party, who are expected to take power in early May. Magyar publicly accused Orbán-linked oligarchs of trying to protect their fortunes from oversight, claiming that “tens of billions of forints” are being transferred to tax havens. The elected prime minister called on Hungarian authorities to intervene to prevent individuals from fleeing to jurisdictions where extradition may be difficult.
Among those reportedly preparing to leave the country is the family of Lőrinc Mészárosa billionaire businessman and former associate of Orbán, whose wealth grew rapidly through state contracts. While these claims remain unconfirmed, investigative news outlets such as Vsquare and 444.hu have reported similar patterns of capital flight and displacement.
Magyar also expressed concern about the alleged destruction of sensitive government documents in the last weeks of the previous government. These accusations were denied by authorities, including Foreign Minister Péter Szijjártó, who called them unfounded and insisted that only redundant paper records had been discarded.
The new government has promised to combat what it describes as systemic corruption and nepotism under the Fidesz government. Analysts warn that efforts to recover potentially misappropriated public funds could take years, given the deep-rooted networks within Hungary’s political and economic institutions.
However, Orbán’s future remains uncertain. The veteran leader announced that he will not retain a seat in parliament, but intends to remain as leader of Fidesz. Sources suggest that he may soon travel to the United States, where political allies and family already reside.
