• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026
Leadershipworld

Billionaire Andrej Babis Scores Big in Czech Election

By
Reuters
Reuters
Down Arrow Button Icon
By
Reuters
Reuters
Down Arrow Button Icon
October 21, 2017, 2:53 PM ET
CZECH-VOTE-POLITICS
Michal Cizek—AFP/Getty ImagesMICHAL CIZEK—AFP/Getty Images
Add Fortune on Google for similar content.

(PRAGUE) – Czech billionaire Andrej Babis won a thumping victory in Saturday’s parliamentary election, giving the anti-establishment businessman facing fraud charges a strong mandate to cut taxes, lift public investment and fight immigration.

Babis’s ANO movement held an unbeatable 30.04 percent of the vote with 94.4 percent of voting stations having reported — almost three times any other party and giving it a chance to rule with just one partner in a coalition.

ANO is the first party to break a quarter century of dominance by two mainstream centre-right and centre-left parties, highlighting a shifting political landscape in Europe where a refugee crisis has given rise to protest groups.

At just 7.4 percent, the ruling Social Democrats of Prime Minister Bohuslav Sobotka were on course for their worst result since the country peacefully split with Slovakia in 1993.

The far-right, anti-European Union SPD party made strong gains, capturing more than 10 percent of the vote, while another protest party, the Pirates, was set to win a number of seat by appealing to unhappy liberal voters.

In all, a record nine parties were set to win seats.

The Czech economy has enjoyed rapid growth, a balanced budget and the lowest unemployment in the European Union in the past four years, but the Social Democrats – who led a government with ANO and another partner – have not been able to capitalise.

Instead, ANO and other protest groups took advantage of voters’ discontent by promising to weed out corruption, fight deeper EU integration and resist Brussels trying to impose quotas for taking in refugees. Babis himself has promised to bring a businessman’s touch to government.

Drawing comparisons with U.S. President Donald Trump for his anti-establishment message, Babis has maintained his popularity despite the charges and accusations of conflicts of interest related to his businesses.

ANO is likely to first turn to the Social Democrats for a coalition, its deputy chairman Jaroslav Faltynek told reporters.

However, the Social Democrats’ acting chairman said the party may move to the opposition.

Babis could also turn to the centre-right Civic Democrats, who were jockeying to be the second strongest party with almost 11 percent of the vote. This party or the Social Democrats have led every Czech cabinet since Czechoslovakia split, apart from caretaker administrations.

Czech Television projections showed ANO winning 81 seats, up from a current 47, in the 200-member lower house. The Civic Democrats could get 23 while the Social Democrats may end with 15, down from 50.

Complicating any coalition talks, though, are police charges that Babis illegally received a 2 million euro EU subsidy when he ran his food, agriculture and chemical empire, worth an estimated $4 billion, before entering politics.

He has denied wrongdoing, but party leaders before the election said it would be hard to be part of a cabinet that includes Babis facing a fraud investigation.

His holdings, including interests in national newspapers and a radio station, were placed in a trust earlier this year.

EUROSCEPTICS

Babis’ swipes at Brussels play well with eurosceptic Czechs but he also praises EU membership and doesn’t share the relatively illiberal ideology seen in governments in Budapest and Warsaw.

“The more people organise campaigns against him the more it helps him among others,” said ANO voter Alena Chlostova.

If coalition talks with mainstream parties fail, there is also the possibility ANO will form a cabinet with backing from the Communists or the SPD.

Czech President Milos Zeman has said he would allow a month for negotiations before calling a new parliament, the trigger for the current administration to depart. By custom, he asks someone to lead talks before appointing a prime minister.

He told online news website parlamentnilisty.cz he would not object to Babis forming a government even while battling police charges. He also said he would have no objections to talks involving SPD or the Communists

About the Author
By Reuters
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

U.S. Treasury Secretary Scott Bessent
EconomyDebt
AI’s $2.2 trillion deficit fix is already half fake, economists say
By Tristan BoveJuly 2, 2026
2 hours ago
Mark Zuckerberg, wearing a white shirt, smiles. He is standing in front of a crowd.
SuccessMark Zuckerberg
Mark Zuckerberg feeds his cows macadamia nuts and beer to create the ‘highest-quality beef in the world’ on his $300 million estate in Hawaii
By Sasha RogelbergJuly 2, 2026
4 hours ago
Chris Hulatt co-founder of Octopus Group
SuccessHow I made my first million
A 2-year taste of the office was enough to make 3 grads quit. Now they run a $13.2 billion investment firm: ‘We didn’t want a traditional job again’
By Orianna Rosa RoyleJuly 2, 2026
5 hours ago
Woman taking photo in scenic landscape
Successlifestyle
Americans are escaping the U.S. for New Zealand where house prices have hit a new low—but only wealthy Americans with $3 million spare can invest
By Emma BurleighJuly 2, 2026
6 hours ago
Jason Lemkin
Successwork-life balance
This investor won’t back startups unless staff are in the office 6 days a week: ‘Not because I don’t have empathy, because they’re going to fail’
By Preston ForeJuly 2, 2026
6 hours ago
The true cost of Donald Trump’s $2.2 billion year
NewslettersCEO Daily
The true cost of Donald Trump’s $2.2 billion year
By Diane BradyJuly 2, 2026
11 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
2 days ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
8 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 day ago
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
Politics
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
1 day ago
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
Success
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 day ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.