Career
He moved from Transylvania to Hungary in 1920 (after the Treaty of Trianon). He was arrested and condemned because of his communist activities. After that Olt took part in the reestablishment of the communist party.
Between 1947 and 1 June 1949 he served as Minister of Welfare.
He was appointed Speaker of the National Assembly of Hungary in 1949. Between 1950 and 1951 he worked as secretary of the Presidential Council.