New PM Péter Magyar calls policy a sign of ‘social justice’ after years of political loyalty being rewarded with economic opportunityIn a dimly lit television studio, one of Hungary’s richest men is on the verge of tears. It is early May, weeks after the general election that ended Viktor Orbán’s 16-year grip on power, and the advertising mogul Balásy Gyula has an announcement to make.Gyula tells the interviewer that he has just surrendered his businesses to the state, along with a chunk of his private savings. He has even brought along a notarised deed – a legal document setting out the change of ownership. Continue reading...

Source: https://www.theguardian.com/world/2026/jun/02/orban-oligarchs-on-edge-hungary-wealth-tax-peter-magyar