Orbán’s oligarchs on edge as Hungary poised to launch wealth tax (opens in new tab)

New PM Péter Magyar calls policy a sign of ‘social justice’ after years of political loyalty being rewarded with economic opportunityIn a dimly lit television studio, one of Hungary’s richest men is on the verge of tears. It is early May, weeks after the general election that ended Viktor Orbán’s 16-year grip on power, and the advertising mogul Balásy Gyula has an announcement to make.Gyula that he has just surrendered his businesses to the state, along with a chunk of his private savings. He...