One of the richest Hungarians gave a fortune to PM Orbán’s son-in-law

Between 2019 and 2022, the company empire of Viktor Orbán’s son-in-law, István Tiborcz, received more than HUF 27 billion (EUR 71.1 million) from a mysterious source. Evidently, so far, noone had the intention to disclose anything about where the money came from, not even Mr Tiborcz. However, now, a piece of evidence has been found. A document suggests that the source of the money may have been one of the country’s richest men, Dániel Jellinek.

Jellinek, the 7th richest person in Hungary

Dániel Jellinek is currently the 7th richest person in Hungary, as you can see HERE. He had been quite rich since around 2006, according to his own report, and could have already made it to the list of the richest people in Hungary. However, it was in the early 2020s that businesses and billions of public money linked to the state started to find Jellinek.

Due to several deals and businesses, the press started to talk more and more often about Jellinek’s connection with the Orbán-cabinet, and especially with Viktor Orbán’s family. However, G7 has now found a document suggesting that Jellinek was the source of the money that miraculously ended up with Orban’s son-in-law.

Relations between Jellinek and the Orbán family

Mr Jellinek claims to be a non-political market player. However, he has received HUF tens of billions of public money and has been involved in state-related business deals in recent years. Nevertheless, he did a lot of business directly with István Tiborcz. Among others, he sold the Gellért Hotel to Orbán’s son-in-law. Meanwhile, the situation was reversed at the Appennin real estate company. What is more, they also jointly own the Waberer’s logistics company.

The G7 has now found an interconnected chain of evidence, assembled from information dropped from public company documents, that suggests that nearly HUF 30 billion in money transfers from Jellinek went to Tiborcz’s pockets.

Who is Áron Hornung and what is his role in the story?

Contrary to Jellinek’s earlier claim, the shares of Geraldton Plc, one of the billionaire’s asset management companies, are not only held by his family members, but also by a little-known Pécs entrepreneur, Áron Hornung. Efforts have been made to hide the cash flows. However, in recent years, Jellinek’s trustee has paid out more than HUF 27 billion (EUR 71.1 million) to Hornung as preferential dividends.

But who is Hornung? He is a member of István Tiborcz’s friendship group from his high school years. On paper, Hornung is the sole owner of a company that received billions from Jellinek. However, in reality, there is a mysterious other shareholder who could have received almost all of the company’s profits.

This mysterious owner may be the BDPST Group of Tiborcz. Their dividend income (from unknown sources) is exactly the same (more than HUF 27 billion) as the amount paid out through Hornung. Another bonus is that Jellinek and Hornung’s company is accounted for by the company of a BDPST employee. They also prepare the accounts of several companies of the Orbán family.

What is Jellinek’s response to all this?

All parties concerned have been contacted by G7. Dániel Jellinek, who has been a regular contributor to the press, retracted his statement to G7. He warned the news portal of the possible legal consequences through his lawyer. Both Áron Hornung’s company and the owner of the accountancy firm have also threatened legal action.

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8 Comments

Anonymous says:

24/07/2023 at 12:43

The EU is on the right track pushing Rule Of Law and anti-corruption in Hungary. The surface has barely been scratched. No EU money is coming for Hungary. The corruption is so deep and entrenched nothing less than a complete change of government will suffice.
Orban Crime Family says:

24/07/2023 at 14:04

When is the trial?
András says:

24/07/2023 at 14:47

The only unnamed cash flow that must be “authorized” in Hungary, by EU and all the others interesteds, is the sudden inflow of US Dollars to some personalities of the government’s opposition, not to mention the external influence. Of course, EU and anyother else, doesn’t see any problem with that. Opposition, and other “players” need something to use against the government, (since the standart suffrage way is not being very well lately), just pollitic’s games, pollitical actors, media hubs and many others trying to bring some “new informations” about the adversaries, anything that could be usefull in some way, no matter if is true or not, and try to hide their own problems.
Melvin von Diktover says:

24/07/2023 at 15:30

There will be no trial. You don’t indict the son of the King, for he is a prince and is above the law. Some think that such rich men should enrich their nation rather than beg for EU funds. You serfs crack me up.
Norbert says:

24/07/2023 at 19:52

What is in a last name – or a family relationship? I am somehow missing the Hunter Biden Crime Family crew, today. And the Trump-Kushner-MBS defenders (apparently that is a sound commercial venture)
Deplorable: says:

24/07/2023 at 22:09

Growing in the MILLIONS is fact, that the citizens of Hungary, are being PULVERIZED by the way this Orban led Government, it has taken Hungary.
Millions are in SURVIVAL mode, and that will WORSEN, if SOLIDARITY of the PEOPLE doesn’t take an URGENT directional change, that “ruthlessly” challenges the Orban led Government of Hungary.
Change is not for the better just going to HAPPEN.
It has to come, in an orderly process, of People Solidarity, to “rid” us being Governed, in the manner and process that Victor Orban and his Government, enforce upon us.
The Rich of Hungary continue at our EXPENSE to get Richer, and the Poor poorer.
It’s past a due date for millions of Hungarians using People Power of Solidarity, in an orderly FASHION – to move this Orban Government on.
The Negatives in the operation of the Orban Government, style and policies – the collapsing Economy they oversee and are responsible for its perilous position, far outweigh the POSITIVES.
It’s time.
kate says:

25/07/2023 at 00:02

Worse is the Clinton ‘can’t keep his pants zipped’ & close buddies ‘charitable’ bank roll if you are going to mention Americans.
Norbert says:

25/07/2023 at 11:26

Same guy, right: https://english.atlatszo.hu/2022/08/13/hungarian-billionaire-quietly-sentenced-by-court-in-eu-tender-fraud-case/

Back to COVID times. There were a bunch very attractive loan packages available from the Hungarian State during COVID. The loan facility would be announced for inscription, and you could not submit paperwork fast enough for the entire facility to already be subscribed. Literally. 10 minutes online – gone. Significant amounts. Wonder who were the happy recipients of these loans?