Viktor Orbán has announced his intention to remain as leader of the Fidesz party to oversee a process of 'renewal', following a devastating election defeat that ended his 16-year rule. The landslide loss has triggered a frantic scramble among his inner circle to move wealth out of Hungary, according to multiple sources.
Exodus of Wealth
Private jets allegedly carrying the spoils of those whose fortunes swelled under Orbán have been departing from Vienna, while other individuals are racing to invest assets abroad. High-level figures close to Orbán have also been exploring US visa options, seeking positions at Maga-linked institutions. The upheaval comes as Hungary prepares to turn the page on Orbán's rule, with incoming Prime Minister Péter Magyar vowing to crack down on corruption.
Since the election, the Guardian has learned that three members of Orbán's inner circle have begun moving their assets to countries in the Middle East, including Saudi Arabia, Oman, and the UAE. Others are targeting Australia and Singapore, according to two Fidesz sources.
Magyar's Accusations
Magyar, whose opposition Tisza party won a landslide victory this month, has accused Fidesz-connected figures of racing to shield their wealth 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,' he alleged on social media. He called on the chief prosecutor, police chief, and tax office head to 'detain the criminals' and prevent them from fleeing to countries where extradition would be unlikely.
Magyar specifically named the family of Lőrinc Mészáros, one of Orbán's closest friends, whose rise from gas fitter to Hungary's richest man was fueled by public procurement contracts. Mészáros's company did not respond to requests for comment. 'I have also been informed that several oligarch families have already left the country,' Magyar added, noting that some families have withdrawn their children from school and arranged trusted security personnel for their departure.
Investigative Reports
The race to move wealth abroad was first reported by independent journalists in Hungary, including investigative outlet Vsquare, which said key figures aimed to safeguard assets before Magyar's government could freeze, seize, or nationalise them. The news site 444.hu claimed in March that key figures were already transferring assets to Dubai. Vsquare noted that efforts could be stymied by bureaucrats and law enforcement officials with partial knowledge of Orbán-era activities, 'setting the stage for what could be a years-long effort to recover allegedly stolen public wealth and arrest those who committed financial crimes.'
Document Destruction Allegations
Magyar has repeatedly alleged that potentially incriminating documents are being destroyed during Orbán's last weeks in power. 'We are receiving increasing reports of large-scale document destruction from various ministries, affiliated institutions, and companies close to Fidesz,' he wrote on social media. Outgoing Foreign Minister Péter Szijjártó, whose ministry was accused of shredding confidential documents, described the accusations as 'nonsense' and 'outrageous,' stating that only redundant paper versions of electronically stored documents were discarded. The foreign ministry and Orbán's office did not respond to requests for comment.
Orbán's Future Plans
The election result has raised questions about Orbán's next steps. On Saturday, Orbán said he would not take his seat in parliament but aimed to stay on as Fidesz's leader to lead a process of 'renewal.' The EU's longest-serving leader is expected to head to the United States around the time of the Fifa World Cup and will likely spend several weeks there, according to a Fidesz-linked source. The trip was planned long before the April 12 election. Orbán's eldest daughter and son-in-law, István Tiborcz, moved to New York last summer. Tiborcz was previously investigated by the EU's anti-fraud office, Olaf, over conflicts of interest in street lamp contracts; he described the inquiry as politically motivated.
US Connections
Other high-level Fidesz figures are applying for US work visas, hoping to use their expertise in Republican-linked institutions, according to a US government source and a Fidesz insider. 'The connection is already there,' said the US source, noting that years of lobbying have cultivated an extensive network within the Maga movement. These connections were evident when US Vice-President JD Vance visited Budapest to bolster Orbán's campaign. Investigative journalist Szabolcs Panyi said sources told him the US had long been seen as a plan B for many connected to Orbán, despite questions over ties to Moscow. 'As long as the Trump administration is in power, even the United States could become a safe haven for the top echelons of the Orbán regime,' Panyi said.
