Orbán's son-in-law profited from betting against his election victory — Bloomberg
István Tiborcz, a businessman and son-in-law of Hungarian Prime Minister Viktor Orbán, profited from betting on the incumbent government’s defeat in the parliamentary elections.
This was reported by Bloomberg.
Equilor Asset Management, a firm linked to Tiborcz, prepared in advance for a change in government. It made significant investments in Hungarian government bonds and stocks ahead of the vote.
The bet paid off after the victory of opposition politician Péter Magyar and his party, Tisza. Against this backdrop, Hungarian financial markets showed growth—stocks, bonds, and the forint exchange rate rose.
The company noted that it had anticipated a decisive victory for the opposition and had structured its investment strategy accordingly.
István Tiborcz, the husband of Orbán’s daughter, has built a substantial business portfolio during his father-in-law’s time in power, which includes real estate, hotels, financial, and other assets.
According to Forbes estimates, he is among Hungary’s wealthiest individuals, with a fortune of approximately $700 million.
Mátyás spoke out against Ukraine’s rapid accession to the EU.
Péter Magyar is the first cousin of the former president of Hungary and the grandson of a judge.
