This week, the top executives at the biggest and most influential companies in tech and media, including Apple CEO Tim Cook, will get together at the Sun Valley Resort in in Sun Valley, Idaho in what’s come to be know as the “Summer Camp For Billionaires.”
It was suspended last year because of the pandemic. But this year, these top moguls are traveling again to Sun Valley for an annual weeklong gathering organized by a boutique investment firm called Allen & Company that is known as intensely private.
Run by the same family since it was founded in 1922, Allen & Co. may be small, but it has developed some deep relationships that have led to roles in some of the biggest tech and media deals and initial public offerings in the last half decades.
It was an adviser in Comcast’s acquisition of Time Warner Cable, a $45 billion deal, and Facebook’s purchase of WhatsApp for $19 billion. Allen & Co. was an underwriter on Google’s and Facebook’s IPOs.
And for almost 40 years, its annual Sun Valley conference has been central to its mission… This week, the aggregate wealth of the men and women staying at the Sun Valley Resort is likely to reach more than $1 trillion…
Next time there’s a transformative deal in media or tech, odds are it may have been hatched during a whirlwind week at a luxury resort in Central Idaho.
MacDailyNews Take: It isn’t July without a shot of Tim and his coffee in Idaho.