• Home
• Channel: Current Affairs
• Foundations Set Up By Gov't Get Multi Billion Forint Dividends

Foundations Set Up By Gov't Get Multi Billion Forint Dividends

• 26 Apr 2023 5:59 AM
• Hungary Around the Clock

Foundations set up in recent years by the government and endowed with considerable state shareholdings and other assets will receive Ft 91 billion in total from dividends to be paid by MOL and Richter on 2022 profits, website 24 reports.

The Mathias Corvinus Collegium (MCC) “for the Fidesz elite”, as Telex describes it, and the Maecenas Universitatis Corvini Foundation (MUC), which operates the Corvinus University, will each receive Ft 36 billion.

The MOL–New Europe Foundation will get Ft 15 billion, and the Health and Medical Education Foundation, which maintains Semmelweis University, can receive Ft 3.8 billion.

The two biggest beneficiaries are the MCC, whose board of trustees is chaired by Balázs Orbán, the prime minister’s political director, and the MUC, led by MOL chairman and CEO Zsolt Hernádi.

The state donated 10% stakes in both MOL and Richter to each of these foundations, worth Ft 574 billion at the time.

Now, they will each receive Ft 28.7 billion from MOL and Ft 7.3 billion from Richter.

MTI Photo

• How does this content make you feel?
• I love it
• I like it
• I dislike it

• Foundation

XpatLoop Media Partner

Hungary Around the Clock

Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

Explore More Reports

Ökotárs Foundation & Hungary’s Political Dynamics

• 17 Dec 2024 6:46 AM

Hungary's Okotars Foundation is “the local distribution centre” of the “political pressure network”, the Sovereignty Protection Office said.



Updated: Are Transparency International Activities Really Harmful to Hungary, as Sovereignty Protection Office Claims?

• 16 Oct 2024 5:53 AM

The Transparency International Hungary Foundation (TIM) carries out activities that are harmful to Hungary, stigmatising the country and state institutions, and exerting influence based on disinformation, the Sovereignty Protection Office said.



Who Are They? Hundreds of Homeless Recorded in Central Budapest in Single Night

• 15 Oct 2024 6:37 AM

Fully 461 homeless people were recorded in public areas in the central parts of Budapest on Friday evening, according to a homeless charity.



Budapest Contemporary Art Fair, Bálna Budapest, 26 - 29 September

• 13 Sep 2024 9:49 AM

The organisers have announced which renowned European galleries will participate in this year's Budapest Contemporary Art Fair (BCT). At the international stand of the contemporary festival, 42 works by 21 artists from 12 galleries will be on display and available for purchase for around €1 million. This year's BCT will be held at the Bálna (Whale) from September 26-29.