How Viktor Orbán’s son-in-law capitalised on tax breaks to dominate Hungary’s rich list!
István Tiborcz, Orbán’s son-in-law, has seen his wealth soar thanks to tax breaks tied to the BDPST Group, which have dramatically sliced his tax obligations.
Following a significant law passed in 2017, the BDPST Group has enjoyed tax relief amounting to approximately 30 billion HUF (EUR 74,058,690.00) over the past five years, which has been transformative for Orbán’s son-in-law Tiborcz’s financial standing. After debuting on Hungary’s rich list in 2019, Orbán’s son-in-law has since tripled his net worth, reaching the 19th spot among Hungary’s billionaires in 2023, according to 24.hu.
BDPST Real Estate Distributor Ltd: A profitable core
At the centre of this wealth accumulation is BDPST Real Estate Distributor Ltd, the flagship company of the BDPST Group. Between 2019 and 2023, the company reported an impressive profit of HUF 48.4 billion. From this amount, Orbán’s son-in-law, Tiborcz and other owners collected HUF 5.5 billion (EUR 13,578,306.50) in dividends, while paying minimal or no corporate tax over the years. BDPST Ltd. employed tax incentives and legal frameworks to keep its tax bill strikingly low, a strategy also extended to its affiliated companies.
The real key to BDPST’s tax savings is a 2017 amendment allowing companies to double-count renovation expenses for historic buildings when calculating tax deductions. Thanks to this policy, introduced by the Orbán government, Tiborcz’s company acquired historic properties and funded their renovations with substantial loans, some sourced from the state-owned Hungarian Development Bank. These manoeuvres have kept BDPST’s tax obligations so low that it has effectively avoided corporate tax altogether.
Reaction from the TISZA Party
Péter Magyar, leader of the TISZA Party, has openly condemned this arrangement, accusing the Orbán government of creating what he describes as a “tax haven” for Tiborcz. He argues that Orbán’s government has effectively embedded loopholes in the law to benefit Tiborcz’s companies, further supporting his enterprises with state-backed loans. Magyar went so far as to liken their operation to “Al Capone in kindergarten,” suggesting this issue could prompt significant political shifts by 2026.
What happens to Orbán’s son-in-law’s wealth?
According to Szabad Európa, Ráhel Orbán and István Tiborcz married in 2013 on a grand estate in Fejér County, located in the picturesque Tükröspuszta, on the border of Bicske and Csabdi. Since then, the Tiborcz family has embarked on a property acquisition spree, buying multiple plots, including a forest and various fields. Recent contracts reveal that Tiborcz and his father, Dr Sándor Tiborcz, acquired a total of 19.6 hectares of land—both farmland and forest—in August and September 2024, valued at HUF 75 million (EUR 185,167.28). With this latest acquisition, the Tiborcz family now owns at least 340 hectares in and around their Tükröspuszta estate.
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