• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
EuropeHungary
Europe

Hungary voted for ‘complete change in regime,’ Peter Magyar says, calling for new parliament ASAP

By
Justin Spike
Justin Spike
,
Sam McNeil
Sam McNeil
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Justin Spike
Justin Spike
,
Sam McNeil
Sam McNeil
, and
The Associated Press
The Associated Press
Down Arrow Button Icon
April 13, 2026, 10:41 AM ET
hungary
Peter Magyar, leader of the Respect and Freedom Party (Tisza), celebrates with supporters after claiming victory in the general election in Budapest, Hungary, on April 12, 2026. Following a decisive lead in the polls and a congratulatory message from Prime Minister Viktor Orban, Magyar addressed the crowd, declaring that Hungary has chosen to return to its European roots. Jakub Porzycki/Anadolu via Getty Images
Add Fortune on Google for similar content.

Hungary’s election winner Péter Magyar called Monday on the country’s president to convene the parliament to form a new government “as quickly as possible,” in hopes that he can take over from Viktor Orbán as prime minister as early as May 5.

Recommended Video

Speaking at a news conference after his Tisza party’s victory Sunday, Magyar said they received “a never-before-seen mandate.” That super-majority would allow Tisza to embark on ambitious program and reforms.

“The Hungarian people didn’t vote for a simple change of government, but for a complete change in regime,” he said.

Magyar thanked Moscow and Beijing for offering their congratulations and willingness to work with Hungary’s new government.

“Hungarians said yesterday they will write their history, not in Moscow, not in Beijing, not in Washington,” he added.

In his campaign, Magyar pledged to end Hungary’s drift toward Russia and restore its ties with European allies. He promised voters that after 16 years of autocratic governance and the erosion of the rule of law under Orbán, he will root out corruption and create a “peaceful, functioning and humane” Hungary.

But what those changes will look like remains to be seen. During his long time in office, Orbán ruled with the power of a two-thirds parliamentary majority, allowing him to pass a new constitution, rewrite the electoral system and reshape the judiciary.

Magyar’s Tisza party secured exactly such a mandate Sunday when it won 138 of parliament’s 199 seats, giving it broad authority to undo much of the legislation that allowed Orbán to stack the courts, manipulate the electoral system, crack down on press freedom and discriminate against the LGBTQ+ community.

Still, there are potential pitfalls that could stand in the way of the radical changes many Hungarians had hoped for.

Historic win

Magyar’s victory was met with jubilation on the streets of Budapest late Sunday with tens of thousands, many of them young people, celebrating what they view as a ray of hope that Orbán’s loss will make Hungary freer, happier and firmly rooted within the fold of European democracies.

On streets and avenues across the capital, drivers blared car horns and cranked up anti-government songs while people marching in the streets chanted and screamed.

During the celebrations, Adrien Rixer said he’d come back to Hungary from his home in London “because I really wanted to make my vote count, and I’m over the moon.”

“Finally I can say that I’m a proud Hungarian, finally after 16 years,” he said.

Many Hungarians, and others across Europe who were closely watching the election, had feared that a simple majority for Tisza would have been inadequate to truly transform Orbán’s system.

Yet others remain uncertain about what the authority of a two-thirds majority will bring, with some uneasy about taking such a mandate from Orbán and delivering it to his opponent.

“Its hard to see that with two-thirds that it’s going to be a fair government, but we will see,” said reveller Dániel Kovács. “Lets hope that it’s going to be a promising four years.”

The election win for Magyar and Tisza was without precedent in Hungary’s post-Communist history: They received more votes and more parliamentary seats than any party ever had before.

Bulcsú Hunyadi, an analyst with the Budapest-based think tank Political Capital, said that while Tisza’s constitutional majority gives it broad powers to roll back many of Orbán’s policies, Hungary’s key institutions are “led by people who are cemented in their position for many years.”

As part of his broader effort to consolidate control over Hungary’s democratic system, Orbán installed loyal allies at the helm of key institutions, from the media authority to the public prosecutor’s office and the Constitutional Court.

In several cases, mandates were extended or new appointments pushed through before existing terms had expired — moves that effectively kept loyal leadership locked in place for years, well beyond any potential change in government.

In his victory speech on Sunday, Magyar called for such officials — including Hungary’s president — to step down of their own accord. Beyond that, Hunyadi said, “they don’t really have any other tools to remove these people.”

Pressure from the EU

Magyar accuses Orbán and his government of mismanaging Hungary’s economy and social services, and overseeing unchecked corruption he says has led to the accumulation of extreme wealth within a small circle of well-connected insiders while leaving ordinary Hungarians behind.

He’s vowed to hold such abuses to account, and plans to create an Office for the Recovery and Protection of National Assets to reclaim what he says are Orbán’s allies’ ill-gotten gains.

Magyar campaigned heavily on a promise to bring home billions of euros in European Union funding that has been frozen to Hungary over corruption and rule-of-law concerns under Orbán. He’s also pledged to introduce the euro to Hungary by 2030 — something Orbán’s government long resisted.

Hunyadi, the analyst, said Magyar’s government will be under “tight pressure” by the EU to quickly carry out reforms in order to get access to those frozen funds that are badly needed by Hungary’s faltering economy.

“There are deadlines in terms of unfreezing the funds. They will have to deliver certain laws and reforms by August this year, which is only a few months away,” he said.

Tisza’s win raised hopes across the EU that a new government in Budapest would reverse Orbán’s antagonistic approach to Ukraine and his obstruction of efforts to assist the war-ravaged country as it defends against Russia’s full-scale invasion.

Orbán has used his veto power in the EU to stymie sanctions on Russia and block crucial funding to Kyiv. He’s also vowed never to allow talks on Ukraine joining the EU to resume.

In a statement on Monday, Ukrainian Foreign Minister Andrii Sybiha said Orbán’s election campaign, “which unfortunately was marked by manipulative rhetoric about Ukraine, is now behind us.”

“We expect that … the election results will also contribute to a normalization of political relations,” Sybiha said.

About the Authors
By Justin Spike
See full bioRight Arrow Button Icon
By Sam McNeil
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Europe

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Europe

Volvo car CEO pushes back on Navarro’s ‘Pirate’ China comments
EuropeVolvo
Volvo car CEO pushes back on Navarro’s ‘Pirate’ China comments
By Rafaela Lindeberg and BloombergJuly 20, 2026
14 hours ago
Nestlé KitKat Original chocolate bars
RetailMarketing
How Nestlé turned a chocolate heist into a masterclass in brand building 
By Sam BirchallJuly 20, 2026
20 hours ago
The U.K. is getting a new prime minister, but bond investors are really in charge and ‘hyper-reactive,’ Wall Street veteran says
EconomyUK
The U.K. is getting a new prime minister, but bond investors are really in charge and ‘hyper-reactive,’ Wall Street veteran says
By Jason MaJuly 19, 2026
1 day ago
Esther Perel speaks on stage during a panel discussion at SXSW in London.
Workplace Culturecorporate culture
Esther Perel has a warning for executives: your workforce is suffering from social atrophy and AI is making it worse 
By Sam BirchallJuly 17, 2026
4 days ago
Europe optimized its supply chains for cost. Now it must pay for resilience  
Commentarysupply chains
Europe optimized its supply chains for cost. Now it must pay for resilience  
By Richard SaynorJuly 16, 2026
5 days ago
Rocket shortage leaves Europe defenseless in space wars
Europespace
Rocket shortage leaves Europe defenseless in space wars
By Gerry Doyle, Alan Crawford and BloombergJuly 13, 2026
8 days ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
11 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
15 hours ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
2 days ago
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
Future of Work
Warren Buffett says his $147 billion investing career was an accident: ‘I may be one of the 10 luckiest in the world’
By Sarah GlodekJuly 20, 2026
21 hours ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
18 hours ago
Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard
AI
Power companies are using eminent domain to seize land for data centers as 70% of Americans say not in my backyard
By Aaron Walayat and The ConversationJuly 19, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.