Orbán associates rush to move wealth out of Hungary after election defeat

Viktor Orbán has said he aims to stay on as Fidesz leader to lead a process of ‘renewal’. Photograph: Attila Kisbenedek/AFP/Getty ImagesView image in fullscreenViktor Orbán has said he aims to stay on as Fidesz leader to lead a process of ‘renewal’. Photograph: Attila Kisbenedek/AFP/Getty ImagesHungaryOrbán associates rush to move wealth out of Hungary after election defeatIncoming PM Péter Magyar accuses Fidesz-linked figures of trying to shield their wealth from accountabilityFlora Garamvolgyi in Budapest and Ashifa KassamSun 26 Apr 2026 12.42 EDTLast modified on Sun 26 Apr 2026 13.53 EDTSharePrefer the Guardian on GoogleAlong the banks of the Danube, news that the Viktor Orbán era had come to an end set off an hours-long party. The joy echoed across Hungary as people traded hugs and high-fives. For some, however, the landslide loss set off a frantic scramble.Private jets allegedly laden with the spoils of those whose wealth swelled during Orbán’s 16 years in power have steadily been taking off from Vienna, while other individuals are racing to invest their assets abroad, sources have told the Guardian. Meanwhile, high-level figures close to Orbán have been looking into US visa options, hoping to find work at Maga-linked institutions.It is a glimpse of the upheaval that has gripped Hungary as it prepares to turn the page on Orbán’s rule. Since he took power in 2010, a small circle of associates aligned with the leader and his Fidesz party have amassed vast fortunes, partly due to their expanding control over the country’s economy and EU-funded contracts for public infrastructure.Since the election, the Guardian has learned of three members of this inner circle who have begun moving their assets abroad. The wealth is being moved to countries in the Middle East – Saudi Arabia, Oman and the UAE – while others have their sights set on Australia and Singapore, two Fidesz sources said.Péter Magyar, whose opposition Tisza party won a landslide victory this month, has sounded the alarm, accusing those connected to Fidesz of racing to shield their wealth from accountability before his government takes power in early May.“Orbán-linked oligarchs are transferring tens of billions of forints to the United Arab Emirates, the United States, Uruguay and other distant countries,” Magyar alleged on social media on Saturday. He called on the chief prosecutor, the police chief and the head of the tax office to “detain the criminals” and “not to allow them to flee” to countries where extradition would be unlikely.Magyar said those expected to leave the country included the family of Lőrinc Mészáros, one of Orbán’s closest friends, whose trajectory from gas fitter to Hungary’s richest man was fuelled in part by public procurement contracts. Mészáros’s company did not immediately respond to a request for comment.“I have also been informed that several oligarch families have already left the country,” Magyar added. “According to reports, several influential oligarch families have already withdrawn their children from school and are arranging trusted security personnel for their departure.”View image in fullscreenPéter Magyar has called on Hungary’s chief prosecutor, the police chief and the head of the tax office to ‘detain the criminals’. Photograph: Robert Hegedus/EPAThe race to move wealth abroad was first reported by independent journalists in Hungary, including the investigative outlet Vsquare, which said key figures connected to Orbán aimed to…

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