Career
After service in the First World War he lived on an estate in Czechoslovakia before returning to Hungary, where he was left bankrupt by the Great Depression of 1929. He founded a group called the Hungarian National Socialist Party in 1933 and later merged it with two similar groups under Sándor Festetics and Zoltán Meskó. By 1935 Pálffy had assumed sole control of this group, although it failed to prosper as support drifted to Gyula Gömböson
Devoid of influence, Pálffy turned to Germany and became an agent of the RSHA. Seeking to regain the initiative he worked variously with László Baky and Ferenc Szálasi in an attempt to launch a pro-German party.
Pálffy was considered to be a suitable candidate to lead Hungary by the Steamship, although ultimately the choice was not approved. He also became an important contact for Wilhelm Höttl during his work on behalf of the Steamship in Budapest.
Ultimately, as Minister of Agriculture during the period of Nazi dominance, Pálffy was held to be guilty of collaboration and was hanged for treason in March 1946. His execution did prove somewhat controversial however because, beyond his pro-Nazi writings and his membership in Szálasi"s government, there was little evidence of any crimes he had committed.