The Billionaires Summer Camp: Why do Zuckerberg and Gates attend Sun Valley
What draws the tech giants, business moguls, and politicians to this elite retreat in Idaho
Words: Charlie Bentley
For mere mortals, we are scarcely privy to the social calendars of billionaires. Occasionally, we are allowed a glimpse into the world of the elite, the prime movers. We hear about events such as the World Economic Forum in Davos or the Monaco Yacht show. These occasions are rarely just places for the ultra-rich to have a chat with the people of their ilk. Rather, they are events that allow for deals to be made, financial connections formed, and dynasties secured. The Sun Valley Conference in Idaho is one of these places, forming a mixture of a retreat and a platform for the world’s most powerful.
The “Allen & Company Sun Valley Conference” is officially listed as a media-finance conference by the private investment firm Allen & Company, a firm that has previously invested and advised in Coca-Cola, BET, and Google. The conference itself lasts for, on average, four days a year.
Just a few of the famous names that have attended this year’s conference include: Sam Altman (OpenAI), Tim Cook (Apple), Mark Zuckerberg (Meta, formerly Facebook), Sundar Pichai (Google), Bob Iger (Disney), Rupert Murdoch, Marc Benioff (Salesforce), Peter Thiel (AirBnB), Greg Peters (Netflix), Neal Mohan (YouTube), Chuck Schumer (Senate Majority Leader), and François-Henri Pinault (Kering). Phew, that is just several selected famous names in tech, media, and politics, without listing any of the high-profile celebrities that attend and familial dynasties that send representatives.
The contents of exactly what goes on at Sun Valley is usually quite confidential. To get to the resort, around 165 private jets flew to the nearby airport this year. Sources state that a typical day will include lectures, outdoors events such as hiking or rafting, dinners, and cocktail parties. So, less sexy, bohemian masquerade parties and more TED talks about the latest global movements on processing chips. Yet, don’t be fooled by the relatively simple activities list, as the hosts make sure to supply a level of decadence that the guests are accustomed to. The Sun Valley Lodge is titled as one of the best ski resorts in the world, accompanied by a 20,000 foot spa
So, whilst enjoying a mojito at this luxurious resort and listening to the tech boys and girls proclaiming the next big technology is right around the corner, what kind of deals have been made at this event to make the billionaires come back? It is reported that Jeff Bezos’s acquisition of the Washington Post, Disney’s $19 billion acquisition of ABC, Verizon’s $4.5 billion acquisition of Yahoo, and Comcast’s majority stake purchase of NBC, were all secured at Sun Valley. If you are a big financial player in the media, the resort appears to be a great way to expand your empire.
From media moguls to business tycoons, the Sun Valley might be one of the most densely populated amount of wealth at one time in the world. If the powers that be hand you an invitation for 2025, make sure to bring your chequebook and swimming trunks.
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