Tech, Entertainment World's 'Summer Camp For Billionaires' Returns To Sun Valley

Investment bank Allen & Company’s annual gathering of technology and entertainment industry executives is back for a July 6-11 run in Sun Valley, Idaho, after being canceled last year due to the coronavirus pandemic.

What Happened: The conference is formally known as the Allen & Company Sun Valley Conference, but has become popularly known as “summer camp for billionaires” due to its gathering of very well-paid corporate leaders in an expensive resort area.

Since its founding in 1982, the conference has become known as the staging ground for major corporate deals. Among the most notable transactions that emerged following the gathering were The Walt Disney Co.’s DIS acquisition of CapCities/ABC in 1995 and Alphabet Inc's GOOGL GOOG acquisition of YouTube in 2006.

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What’s Happening Now: Attendance at the conference is by invitation only. According to a guest list obtained by Axios, among the executives scheduled to arrive in Idaho are Berkshire Hathaway’s (NYSE: BRK-A) Warren Buffett, Amazon’s outgoing CEO Jeff Bezos and his replacement Andy Jassy, a Facebook FB executive lineup of Mark Zuckerberg, Sheryl Sandberg, Marne Levine and Dave Wehner and The Walt Disney Co.’s Bob Iger and Bob Chapek.

The sports world is also being represented at the event by National Football League Commissioner Roger Goodell, NBA Commissioner Adam Silver, PGA Tour Commissioner Jay Monahan and Activision Blizzard's ATVI Brian Kelly and Bobby Kotick.

There is no on-site media coverage of the conference, although a few high-profile television news personalities including CBS' Gayle King, CNN's Erin Burnett and CNBC's Andrew Ross Sorkin are on the attendance list.

Conspicuously absent from the event are Twitter TWTR CEO Jack Dorsey and Tesla Inc.'s TSLA self-crowned "technoking" Elon Musk.

Photo: Facebook's Mark Zuckerberg will be among the executives attending this year's Allen & Company's Sun Valley Conference. Anthony Quintano/Flickr Creative Commons.

Posted In: NewsPreviewsEventsTechMediaTrading IdeasAllen & Companysummer camp for billionairesSun Valley Conference

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