Budapest has formally completed the winding-up of the network of public-interest asset management foundations (KEKVAs) created under Viktor Orbán. From 31 August 2026, the rights and obligations of 16 such organisations passed to the state, which has taken back real estate and shareholdings. They include the Mathias Corvinus Collegium (MCC), the Batthyány Lajos Foundation and former president János Áder’s Blue Planet (Kék Bolygó) climate foundation.
According to the Prime Minister’s Office, assets with a book value of at least HUF 1,284 billion have been returned to the state from these 16 non-university foundations alone. The largest block belongs to the MCC foundation (about HUF 575 billion), including previously transferred stakes in MOL and Richter. Between 2022 and 2026 the Batthyány foundation received about HUF 66 billion in state support; Áder’s foundation received about HUF 25 billion.
Prime Minister Péter Magyar said the previous government had moved state assets, property and public functions out of public oversight in order to preserve influence after a change of power. Educational, research, climate and cultural programmes that the authorities regard as being of public value will continue — but without KEKVA special status, state funding or control over public assets.
The MCC think tank in Brussels has closed after its funding stopped. Executive director Frank Furedi resigned, saying the parent organisation in Budapest had stopped paying staff and meeting contractual obligations. In its present form, he said, the Brussels office was “finished.”
The Blue Planet foundation said it would challenge the government’s decision in court. Some of the other organisations cooperated with the transfer; others have resisted.
The liquidation of the KEKVAs formed part of a reform package agreed with the European Commission. After those reforms were carried out, Budapest gained access to previously frozen EU funds of about €16.4 billion (COVID-19 recovery money, cohesion funds and tranches linked to academic freedom). The Hungarian authorities stress that the unblocking followed from transparency and rule-of-law measures, without political concessions on other issues.
University foundations in the same system are due to be restructured by the end of August 2027.