The Mathias Corvinus Collegium (MCC), a Budapest-based institution that served as a key bridge between Hungary's Fidesz party and the American MAGA movement, faces an uncertain future after Hungary's new government moved to reclaim the public assets that financed it. Parliament, now controlled by Prime Minister Peter Magyar's Tisza party, passed legislation in June requiring the MCC to return nearly one billion Swiss francs' worth of shares in energy firm MOL and pharmaceutical company Gedeon Richter, along with accumulated dividends and property transferred to it under former premier Viktor Orbán. The collapse of the MCC's funding matters beyond Hungary's borders: the institution had spent years cultivating ties with the US conservative right — hosting figures such as J. D. Vance and Tucker Carlson — and helped establish Orbán's Hungary as a model for nationalist movements internationally, a status that now appears to be fading alongside his political influence.