A profile of Hungarian businessman Lorinc Meszaros.
A former mayor of Felcsut, Prime Minister Viktor Orban’s home village, Lorinc Meszaros has entrenched himself across the Hungarian economy, recently adding the Budapest-Belgrade railway upgrade to to his large portfolio. Estimates of his fortune have grown from 24 million dollars in 2014 to 1.3 billion in 2018. That is due primarily to the success of Meszaros’s companies in public tenders, which cannot be disentangled from his relationship with Orban.
The lack of transparency around Meszaros’s success has tarnished the image of public tenders in Hungary, deterring competition.
His overwhelming influence in certain sectors, paired with widespread perceptions of government backing, may deter investment in Hungary.
The reallocation of wealth to domestic moguls by squeezing international capital may lead several large international companies to leave.
