Posts tagged with "Sun Valley"

The billionaires have touched down in Sun Valley

July 8, 2021

Top officials from business, government, and more have returned to Allen & Company’s annual gathering of power brokers in the tiny resort town of Sun Valley, Idaho, The New York Times reports.

The yearly eventthat some call “Mogulfest,” held July 11-16 this time around and hosted by the New York City-based investment banking firm, is where major deals are struck and corporate disputes are settled—or sparked. Verizon’s purchase of AOL, for example. Or Comcast’s blockbuster acquisition of NBCUniversal.

This week, corporate titans, foreign leaders, Wall Street barons and the Silicon Valley elite have made their way to the Sun Valley Lodge to talk shop. (They skipped last year because of the pandemic.)

The guest list conjures a keen sense of the postindustrial Gilded Age: the cable giant John Malone; the Facebook founder Mark Zuckerberg; the Google founders Larry Page and Sergey Brin; the Apple chief Tim Cook; as well as financial titans Warren Buffett; Bill Gates; Mike Bloomberg, and on and on. (The 90-year-old Rupert Murdoch, a regular, will sit out this year.)

Naturally, reporters are there, too. The masters of the universe will smile and wave—they’re happy to see an eager news media standing witness to their importance — but they’ll never talk about what’s really happening, who they’ve been meeting or what deals they’re contemplating. Why would they?

Research contact: @nytimes