July: Allen & Company Conference in Sun Valley
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Every July, private jets descend on the small town of Hailey, Idaho, for Davos’ summer counterpart: the Allen & Company Sun Valley Conference, also known as Billionaires Summer Camp.
Since 1983, the investment bank Allen & Co – whose chairman, Herbert Allen, is himself a billionaire – has organized the event, which attracts the biggest and richest names in business, including Bill Gates, Mark Zuckerberg, Warren Buffett and Rupert Murdoch.
The conference became known for agreements reached between rounds of golf, guided hikes, whitewater rafting and tennis matches. It’s where Jeff Bezos landed the Washington Post for $250 million in 2013 and where the seeds of Disney’s $19 billion acquisition of ABC were planted in 1995.
The holiday and business gathering is by invitation only and is pretty much reserved for masters of the universe clad in vests and zippers – and their entourages. Security is tight, with even the press isolated from most of the workings and transactions.
But when the conference is not in progress, you too can stay at Chalet of the Valley of the Sun, the retreat’s base that offers a year-round ice rink, luxury spa, and pool with mountain views. The most basic rooms cost more than $500 a night in summer, and suites cost more than $1,500. But don’t worry about the billionaires, Allen & Co is footing the bill.
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