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Hungary's richest boost wealth

Hungary’s 100 richest people increased their wealth by 12% year on year in 2010 to HUF 2,116 billion (EUR 7.98 bn), according to a list compiled by local business daily Napi Gazdaság. Sándor Csányi, OTP Bank’s Chairman-CEO dethroned real estate mogul Sándor Demján.

 

Sándor Csányi’s fortune increased by HUF 35 billion last year to HUF 155 billion, thus, he has become Hungary’s richest man. He has taken the top position from last year’s "king" Sándor Demján, head of real estate developer TriGranit, as Demján’s wealth shrunk by HUF 10 billion to HUF 140 bn in 2010. Retail tycoon Gábor Várszegi came in third with private properties worth HUF 120 bn, HUF 20 bn more than a year earlier.

There are 11 debutants on the list, including two from Jászberény: Lajos Kasza (owner of plastics processor Jász Plasztik) and Zoltán Szatmári (owner of Szatmári retail chain). Only two of these 11 have been on the list before.

Three of the newcomers debuted in the Top20. Géza Pap, owner of asset manager Olajterv made it right to the Top10 with a fortune of HUF 47 bn.

The three owners of Mal Zrt., the alumina company that owns a red mud reservoir that burst last year, - Lajos Tolnay, Béla Petrusz and Árpád Bakonyi - are no longer among the 100 richest Hungarians as the value of the company is virtually impossible to assess due to red mud spillage.

While the wealth of the 100 richest Hungarians equalled 5% of Hungary’s GDP in 2002, it was tantamount to 7% of GDP in 2010. The same group of people in the United States "owns" over 10% of the country's GDP.

 

Sándor Laczkó / portfolio.hu

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