Hungaryʼs 2nd Richest Man Demján Dies

  • 28 Mar 2018 8:24 PM
  • Budapest Business Journal
Hungaryʼs 2nd Richest Man Demján Dies
Hungarian businessman and entrepreneur Sándor Demján, chairman of real estate company TriGránit, died Monday evening aged 74, real estate developer Gránit Pólus announced yesterday. Demján was Hungaryʼs second richest man, according to Forbes.

Demján was founder and chairman of the Gránit Pólus Group, served as executive president of the National Association of Entrepreneurs and Employers (VOSZ), and as chairman of the National Association of Savings Cooperatives (OTSz).  

From humble beginnings, Demján started the Skála department store chain in 1973 and founded Gránit Bank in 1985 and the Hungarian Credit Bank in 1986.  

In 1996, he became the chairman of TriGránit, and in 1999, inaugurated the WestEnd City Center mall, then the largest mall in the region.

In 2003, Demján founded the Prima Primissima Award, to recognize Hungarian excellence in science, arts and culture.

In 2012, Demján announced that he would leave a significant portion of his wealth to charity after his death. In 2014, he revealed he would gradually withdraw from business life, citing his age.

MTI Photo: Illyés Tibor

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.