A fleet of private jets has descended on Idaho as one of the world’s greatest business retreats begins at Sun Valley Lodge.
Often described as “Billionaires’ Summer Camp,” Allen & Co’s annual summer conference brings together industry titans from around the globe.
Among the tycoons in attendance this year were embattled Disney CEO Bob Iger, New England Patriot owner Robert Kraft and OpenAI founder Sam Altman.
The summit is one of the business events of the summer, where leaders from all industries come to discuss the state of their empires. However, this year is expected to be less festive in tone with global economic struggles and rising inflation.
Media mogul Rupert Murdock is in attendance with his sons James (right) and Lachlan (not pictured)
Warner Bros. Discovery boss David Zaslav is among the richest men in retirement.
OpenAI CEO Sam Altman addressed the media when he arrived at the Sun Valley Lodge.
The Sun Valley Lodge in Idaho hosts the world’s top business leaders each year
The conference at Sun Valley Lodge in Idaho is among the most prestigious on the business calendar.
Private jets typically fly into Friedman Memorial Airport in Hailey, about 15 miles from the luxury resort, where the runways fill up and are known to run behind schedule every year.
Guests are then ushered into the luxurious estate, where picturesque views serve as an ideal backdrop to discuss their next billion-dollar business venture.
One of the richest attendees this year is Warner Bros. Discovery CEO David Zaslav, who recently topped the list of America’s highest-paid media executives.
In 2021 alone, it grossed a titanic $246 million, while from 2018 to 2022 it earned more than $498 million, according to research from Equilar Inc cited by the The Los Angeles Times.
Also reportedly a hot topic at the summit is a recent federal court ruling in favor of Activision Blizzard Inc. CEO Bobby Kotick, who helped his company sell for $69 billion to Microsoft, according to Bloomberg.
Both Kotick and Microsoft CEO Satya Nadella are known to regularly attend the annual Billionaires Gathering.
The rolling foothills of Idaho serve as the ideal backdrop for the luxurious retreat.
Disney CEO Bob Iger pictured arriving at the property on July 11, 2023
Stacey Bendet, fashion designer and CEO of Alice + Olivia, rocked a striking red and white ensemble as she took her place among the titans of business.
Paramount Global President Shari Redstone seen on site Tuesday
Sun Valley Lodge covers an expansive property with picturesque views of Idaho
Activision Blizzard Inc. CEO Bobby Kotick entered the event following a federal ruling in his favor that helped his company’s sale to Microsoft.
The fleet of private planes heading 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, many of the conversations that occur at Sun Valley Lodge ripple across industries.
One of the stories being shown this week comes from Disney boss Bob Iger, who has announced that he will step down in December 2024.
Notably, 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.
The successful Senate hearings Tuesday between lawmakers and the PGA Tour will also be on the minds of many in Idaho.
Allen & Co., the host of this week’s summit, was at the center of surprise negotiations that saw the PGA Tour agree to a proposed merger with LIV Golf, a new Saudi regime-backed golf tour, earlier this year. .
New England Patriots owner Robert Kraft, pictured arriving at the conference Tuesday.
The runways of the nearby Hailey, Idaho airport have been known to fill up with private jets each year.
The luxurious property is home to the richest and most powerful businessmen from the spheres of media, finance, technology and politics.
Casey Wasserman, president of Wasserman Media Group, arrives at the Sun Valley Lodge
Brian Grazer, film and television producer, speaks to the media as he arrives for the conference on July 11, 2023
The business titans seen on the site so far cover industries from tech and sports to finance and streaming.
Attendees this year include Wasserman Media Group President Casey Wasserman and film producer Brian Grazer.
The conference began in 1982, and in its early days, founder Herbert Allen, who co-founded Allen & Company with his brother Charles, had to beg guests to attend.
But now, the Sun Valley conference has earned a reputation for hosting high-profile deals, or at least being the site of the conversations that started them.
Previous deals that trace their roots to Sun Valley include Disney’s 1995 purchase of Capital Cities/ABC, Comcast’s 2009 acquisition of NBCUniversal, Verizon’s 2015 purchase of AOL and the purchase of The Washington Post by Jeff Bezos in 2013.
Other famous faces who have turned up at the business getaway over the years include Mark Zuckerberg, McDonald’s CEO Steve Easterbrook and PayPal CEO Dan Schulman.