Meet Wizz Air’s CEO—his father was jailed under Soviet rule. Now, he’s on $4.4 million a year and would ‘rather keep building than sit on a beach’

Growing up in Soviet-controlled Hungary, Wizz Air founder József Váradi was born into a family still paying for his father’s role in the 1956 revolution — jailed, then frozen out of steady work for years, while his mother took factory shifts to keep them afloat. Six decades later, he’s running an airline that takes off somewhere in the world roughly once a minute.

“My father’s experience gave me a healthy skepticism about taking things for granted. It showed me how quickly circumstances can change and how important it is to remain adaptable. That mindset has helped me throughout my life and career,” Váradi told Fortune, adding that he “didn’t grow up dreaming of running an airline.” At first, he focused on getting a good education. And that he did. 

Váradi won a scholarship to one of Hungary’s top universities, moved to Budapest at 18, and graduated as an economist from Corvinus University in 1989. He then worked short stints at a chemical plant and a paint factory before joining Procter & Gamble, where he spent a decade climbing the ranks in commercial roles and eventually became sales director for global customers across Europe.

In 2001, he joined Malév Hungarian Airlines as a manager—only for the airline’s board to refuse to extend its CEO’s contract five months later and hand Váradi the job instead. It didn’t last: a change in government forced him out in 2003. 

“Instead of focusing on what was lost, I focused on what could be created,” Váradi added. “At the time it was disappointing, but looking back, it was also the catalyst for building Wizz Air. Sometimes what appears to be a setback becomes the beginning of something much bigger and better.”  

Just months later, he founded Wizz Air, betting that Hungary’s looming entry into the EU—and the freedom of movement that came with it—would send demand for cheap flights soaring. 

And he was right. Wizz Air is now the most popular short-haul carrier in Central and Eastern Europe, flying 265 aircraft to nearly 200 airports in 50 countries and carrying more than 550 million passengers to date. And it’s still growing: This year, the airline expanded into Spain, one of Europe’s biggest aviation markets. 

Meanwhile, Váradi, who took home a £3.3 million ($4.4 million) salary last year, has flown to nearly every continent on the planet in the last year alone, for both business and pleasure. The 60-year-old CEO spends more than 800 hours a year in the air—or rather, 33 days spent on a plane. That’s more than the number of days he takes off work in a year. 

But don’t expect him to slow down any time soon. Despite having well earned the right to put his feet up, he’s up most mornings for a 30-minute treadmill run before 9 a.m., lives 15 minutes from the office, and has lunch in the company canteen most days, with zero plans to retire. “I’d rather keep building than sit on a beach,” Váradi says. 

Fortune’s series, The Good Life, shows how up-and-coming leaders spend their time and money outside of work. 

The C-suite is a high-pressure job with long hours, board responsibilities, and intense scrutiny. But what is it like to be a top executive when you’re off the clock? Here’s what she told us.

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