The people who run the world aren’t hiding — they’re at Sun Valley Summer Camp
EACH year, the Western world’s most rich and powerful gather in a tiny mountain town in Idaho to attend a five-day summer camp called Sun Valley.
They arrive in private jets while hordes of photographers try to catch a glimpse of them entering a wooden mountainside ski lodge.
Think Elon Musk, Mark Zuckerberg, Oprah Winfrey, Bill Gates and Warren Buffett.
WHAT IS ALLEN AND CO’S SUN VALLEY?
The secretive, exclusive and invite-only retreat was founded in 1983, 35 years ago. It’s a five-day summer-camp-style getaway for billionaires in media, finance, politics and power. Hosted at the historic Sun Valley Lodge outside Ketchum, Idaho, attendance costs a billion dollars. The camp is run by Herb Allen Jr, the chief executive officer of Allen and Co, a secretive Fifth Ave merger and acquisitions company.
The company itself is private and secretive, like its CEO, who does not issue press releases. The company also doesn’t have a website. The company does, however, have powerful employees, such as George Tenet, who used to run the Central Intelligence Agency, and its client list is similarly heavyweight.
Allen and Co has been instrumental as advisers in media acquisitions and takeovers, including Google’s initial public offering in 2004, Facebook’s $US19 billion acquisition of WhatsApp in 2014, Microsoft’s $US26 billion acquisition of LinkedIn and eBay’s separation from PayPal in 2015. This separation resulted in thousands of job losses at both PayPal and eBay over the ensuing years.
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https://www.news.com.au/finance/work/leaders/the-people-who-run-the-world-arent-hiding-theyre-at-sun-valley-summer-camp/news-story/eac4edbbf81d93fbfb4df622dd77f592