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Less Than 5,000 Hungarian Families Own 30% of Total Domestic Net Financial Wealth

Ábrahám Vass 2021.10.12.

There are around 4,000-4,500 families in Hungary with financial assets exceeding HUF 300 million (EUR 834,000) in addition to real estate. This tight circle owns almost one-third (30%) of the total domestic net financial wealth, azenpenzem.hu reports, in reference to private banking company Blochamps. 

In addition to the above-mentioned data, they own more than 5% of Hungary’s total household savings in bank accounts and securities, which points to the possibility of the majority of their assets are not being kept within the banking system.

These rich people are typically first-generation entrepreneurs and businessmen, claims Blochamps CEO, István Karagich.

An earlier Blochamps analysis showed that an amazing wealth concentration has begun among the wealthiest in Hungary over the past three years. Their estimations foresee that Hungary may potentially have seven thousand HUF billionaires and seven USD billionaires by 2025.

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featured image illustration via Imre Faludi/MTI