It seems even PM Viktor Orbán’s son-in-law bet on Fidesz’s defeat: and made a fortune

István Tiborcz, a son-in-law of the outgoing prime minister Viktor Orbán, partially owns Equilor, a corporate conglomerate. One of its asset management firms made a fortune from betting on Orbán’s defeat in the 12 April general election.

István Tiborcz is not in Hungary

As you probably know, Péter Magyar (the ex-husband of former Justice Minister Judit Varga) and his Tisza Party won the parliamentary election, ending Orbán’s 16-year rule. Yet according to 24.hu, even Orbán’s son-in-law, István Tiborcz, bet against his victory.

Tiborcz is one of Hungary’s wealthiest people, having amassed most of his fortune after marrying Ráhel Orbán, the prime minister’s eldest daughter. The family now lives in the United States. They left last autumn, just as they did in autumn 2021 when they moved to Marbella and stayed until the outgoing premier secured a supermajority in the 2022 general election. It now remains to be seen whether they will return or stay in the US, where Ráhel is reportedly studying.

They bet on Orbán’s defeat, and won a lot

It seems they knew more about the 12 April election outcome than Ráhel’s father. Although the outgoing premier insisted throughout the campaign that Fidesz would win decisively, Tisza secured a historic supermajority. And Tiborcz bet on precisely that.

According to 24.hu, an asset management firm owned by Equilor, a conglomerate in which Tiborcz holds a partial stake, wagered that he would lose power.

Equilor’s investment director, Attila Szabó, confirmed the bet to 24.hu.

According to 24.hu, this shows that even insiders from the Orbán regime bet against him.

Hungarian bonds, with the exception of those tied to government-friendly firms, skyrocketed after Tisza’s victory due to the news of potentially unlocked EU funds and plans to introduce the euro.

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