Hungary: Business magnates adjust to post-Orbán political shift

Following the election of Prime Minister Péter Magyar in April, which ended Viktor Orbán's sixteen-year rule, Hungarian business magnates are facing a shifting economic landscape. Companies that built vast empires through close ties to the previous administration are now re-evaluating their business models to avoid potential losses as the new government aims to curb cronyism.

Analysts suggest that firms heavily reliant on large-scale public infrastructure projects are at the highest risk. Some construction and road-building companies may disappear within a year or two as contracts are redirected to new competitors. In response, some major firms, such as Market Epite, are pivoting toward smaller projects and residential and infrastructure construction to ensure stability.

Amidst these economic shifts, former Prime Minister Viktor Orbán was recently seen in Serbia at the Guča trumpet festival. He was filmed walking without security alongside influential Hungarian entrepreneurs, including MOL deputy CEO Oszkár Világi and architect Dániel Taraczky. The presence of these figures highlights the ongoing social and professional connections between Orbán and the business elite despite the change in national leadership.