July: Allen & Company Sun Valley Conference
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Every July, private jets descend on the small town of Hailey, Idaho, for the summer counterpart to Davos: the Allen & Company Sun Valley Conference — also known as billionaire summer camp.
Since 1983, boutique investment bank Allen & Co — its president, Herbert Allen, is a billionaire himself — has hosted the event, which attracts the biggest and richest names in business, including Bill Gates, Mark Zuckerberg, Warren Buffett, and Rupert Murdoch.
Private planes touch down in the small town of Sun Valley for the conference, which has become known for the deals struck in between rounds of golf, guided hikes, whitewater rafting, and tennis matches. It’s where Jeff Bezos snagged The Washington Post for $250 million in 2013 and where the seed for Disney’s $19 billion acquisition of ABC was planted in 1995.
This year’s hot topics included the planned sale of Paramount to Skydance — with Shari Redstone making a grand entrance — artificial intelligence, and the 2024 election.
The vacation-cum-business-meeting is invite-only and pretty much restricted to masters of the universe dressed in vests and quarter-zips — as well as their entourages. Security is strict, with even the press walled off from most of the wheeling and dealing.
But when the conference is not in session, you, too, can stay at the Sun Valley Lodge, the homebase of the retreat that offers a year-round ice skating rink, luxe spa, and pool with a view of the mountains. The most basic rooms cost upwards of $500 a night over the summer, and suites go for upwards of $1,500. But don’t feel too bad for the billionaires, Allen & Co foots the bill.
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