Page 9 - BNE_magazine_07_2020

bne July 2020 Companies & Markets I 9
Hungary's richest man retains title with net worth of €900mn
bne IntelliNews
Chairman-CEO of CEE's leading bank OTP, Sandor Csanyi, who also has vast interests in agriculture and the food industry, retained his top position as Hungary's richest man, according to local media reports on June 12.
The latest "100 Richest" Hungarians list was drawn up on the basis of 2019 results but took into account the first effects of the coronavirus (COVID-19) pandemic between March and May this year. Csanyi’s assets dropped to HUF310bn (€898mn) from HUF360bn according to estimates. The banker has preserved his long-held position as Hungary's richest man.
Gorgy Gattyan replaced Lorinc Meszaros in second place with assets of HUF 280bn. Gattyan diversified his investments
in Docler Holding after making a fortune in online adult entertainment. The businessman is also involved as a financier in a Hungarian innovation, teqball, which is played on
a special curved table.
Meszaros, the former gas-fitter who has risen to Hungary's elite in just a few years, has seen his wealth drop to HUF270bn from HUF280bn a year earlier.
Those who compile the list say the wealth of Orban's favourite crony jumped from HUF24bn in 2015 to HUF120bn a year later. Meszaros, earlier the mayor of Felcsut, the hometown
of the prime minister, controls holding company Opus Global, listed on the Budapest Stock Exchange.
His assets have ballooned in recent years with help from lucrative state contracts. One of his subsidiaries RM International is involved in the Sino-Hungarian consortium for the Chinese-financed €2.1bn reconstruction and expansion of the Hungarian section of the Budapest-Belgrade rail line.
Business partners of Orban and Meszaros have also prospered. Laszlo Szijj, the owner of construction firm Duna Aszfalt was ranked seventh with HUF120bn in assets. The son-in-law of the prime minister, Istvan Tiborcz, is reported to have amassed HUF36bn in just a few years since he married Orban's eldest daughter.
Cybersecurity software firm Avast becomes first Czech company to join London Stock Exchange’s FTSE 100 Index
bne IntelliNews
The Czech cybersecurity software company Avast has become the first Czech company to join the London Stock Exchange FTSE 100 index, announced the global index provider FTSE Russell in its June 2020 quarterly review published on June 3.
The update of the FTSE 100 index saw the exit of several firms hit by the coronavirus (COVID-19) pandemic as cruise company Carnval, budget airline Easyjet and aerospace components producer Meggitt dropped out.
Joining the index alongside Avast, which entered the LSE in May 2018, were home-repairs company Homeserve and DIY group Kingfisher, as well as gambling company GVC.
AVAST PLC
Overall assets of Hungary's most powerful men and women stood at HUF4.6 trillion, which is HUF65bn less than a year earlier.
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Avast enters FTSE 100 just two years after listing on LSE as coronavirus pandemic’s devastation of travel industry causes cruise giant Carnival and budget airline Easyjet to drop out.
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