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Between 2010 and 2017, many lucky Hungarians, including young entrepreneurs, businesspeople, relatives, and friends, became wealthy in Hungary. This group's financial success can primarily be attributed to political trust. How do these individuals acquire, spend, and invest their money? In the introduction of our series, we examined the wealth accumulation trends of the past decade. Over the past seven years in Hungary, a circle of individuals—referred to as NER knights, after the National Cooperation System (NER)—have become astonishingly wealthy very quickly. While some names are emblematic—Lőrinc Mészáros, Árpád Habony, István Tiborcz, Norbert Szivek, Ádám Matolcsy, István Száraz—the focus isn't solely on the most famous figures. Instead, it includes several hundred wealthy individuals and their family members, many of whom started from almost nothing and now possess assets worth hundreds of millions. Some members of this circle live modest lives, but the wealthiest members visibly indulge themselves. These wealthy Hungarians can often be seen in various luxurious environments: in Milanese designer boutiques, at high-profile sporting events like Barcelona or Chelsea matches with private jet arrangements, at VIP sections of domestic festivals, in ski paradises on the Austria-Switzerland border like Ischgl during season openings and closing parties, in sports cars on Dubai streets, at fine dining restaurants in London, or in Budapest cocktail bars like the Black Swan. Many of these individuals look no different from Western billionaires—educated abroad, well-dressed, familiar with fine dining and mixology, and comfortable navigating the global scene. Others aim to be part of this circle but are more ostentatious, showy, or superficial. There are also those who prefer to keep a low profile, uninterested in the glitz and glamour, favoring simpler pleasures like sausage festivals, Croatian beaches, or traditional dishes. In Budapest's Buda elite or in the nightlife of Pest, everyone knows each other. It’s relatively easy to find familiar hotspots within this circle. Naturally, stories heard in casual conversations often revolve around extraordinary events—legends often emerge from unlikely incidents—and these tales reveal much about the mood and atmosphere of this world. These stories tend to be told more passionately than about everyday life, highlighting the unique culture and lifestyle of this privileged circle.
