Private jets descend on Sun Valley as industry titans gather for ‘billionaire summer camp’
A fleet of private jets has landed in Idaho as one of the world’s premier corporate retreats kicks off at Sun Valley Lodge.
The annual Allen & Co summer conference, often described as the “summer camp for billionaires,” brings together industry titans from around the planet.
Among the moguls in attendance this year are Disney CEO Bob Iger, New England Patriot owner Robert Kraft, and OpenAI founder Sam Altman.
The summit is one of the summer’s business events, where leaders from various industries gather to discuss the state of their empires. However, this year is expected to take on a less celebratory tone with the global economic struggles and rising inflation.
Media magnate Rupert Murdock is present with his sons James (right) and Lachlan (not pictured)
Warner Bros. Discovery chief David Zaslav is one of the wealthiest men on the retreat
Sam Altman, CEO of OpenAI, pictured himself addressing the media when he arrived at the Sun Valley Lodge
The Sun Valley Lodge in Idaho plays host to the world’s leading business leaders each year
The conference at Sun Valley Lodge in Idaho is one of the most prestigious on the corporate agenda.
Private jets usually fly into Hailey’s Friedman Memorial Airport, about 15 miles from the posh resort, where runways become overcrowded and known to fall behind each year.
Guests are then driven to the posh estate, where the scenic views serve as the ideal backdrop to discuss their next billion-dollar business venture.
One of the richest attendees this year is David Zaslav, CEO of Warner Bros. Discovery, who recently topped the list of the highest paid media executives in America.
In 2021 alone, he pulled in a massive $246 million, while earning more than $498 million from 2018 to 2022, according to research from Equilar Inc, cited by the LA times.
A top hot button issue is also reportedly a recent federal court ruling in favor of Activision Blizzard Inc CEO Bobby Kotick. Bloomberg.
Both Kotick and Microsoft CEO Satya Nadella are known to regularly attend the annual billionaire meeting.
The rolling hills of Idaho serve as the ideal backdrop for the lavish retreat
Disney CEO Bob Iger envisioned arriving at the estate on July 11, 2023
Stacey Bendet, a fashion designer and CEO of Alice + Olivia, wore a striking red and white ensemble as she took her place among the corporate titans
Paramount Global Chairwoman Shari Redstone seen on site Tuesday
Sun Valley Lodge occupies a sprawling estate with scenic views of Idaho
Activision Blizzard Inc. CEO Bobby Kotick attended the event because of a federal ruling in his favor that helped the sale of his company to Microsoft
The fleet of private jets making their way to the small local airport in Hailey, Idaho are expected to back up the runways.
With attendees among the most powerful and influential people in the world, much of the conversation taking place at Sun Valley Lodge waves through sectors.
One of the storylines featured this week comes from Disney chief Bob Iger, who has announced he will be stepping down from his role in December 2024.
In particular, two of those reportedly being considered to replace him, Disney Parks’ Josh D’Amaro and Disney Entertainment’s Dana Walden, are expected to attend this year.
Tuesday’s blockbuster Senate hearings between lawmakers and the PGA Tour are also expected to keep many in Idaho busy.
Allen & Co., the host of this week’s summit, was at the center of surprise negotiations that saw the PGA Tour agree earlier this year to a proposed merger with LIV Golf, a new golf tour backed by the Saudi regime.
New England Patriots owner Robert Kraft pictured himself arriving at the conference on Tuesday
The runways of the nearby airport in Hailey, Idaho are known to be filled with private jets every year
The lavish estate is home to the wealthiest and most powerful business people from media, finance, technology and politics
Casey Wasserman, president of the Wasserman Media Group, arrives at the Sun Valley Lodge
Brian Grazer, film and television producer, addresses the media as he arrives at the conference on July 11, 2023
Business titans seen on the site so far cover industries from technology and sports to finance and broadcasting.
Attendees this year include Wasserman Media Group Chairman Casey Wasserman and film producer Brian Grazer
The conference began in 1982 and at first, founder Herbert Allen – who co-founded Allen & Company with brother Charles – had to beg invitees to come.
But now the Sun Valley conference has earned a reputation for hosting high-profile business deals, or at least being the venue of the conversations that started them.
Previous deals originating in Sun Valley include Disney’s purchase of Capital Cities/ABC in 1995, Comcast’s acquisition of NBCUniversal in 2009, Verizon’s purchase of AOL in 2015, and Jeff’s purchase of The Washington Post Bezos in 2013.
Other familiar faces who have appeared on the corporate outing over the years include Mark Zuckerberg, McDonald’s CEO Steve Easterbrook, and PayPal CEO Dan Schulman.