After being canceled last year owing to the coronavirus epidemic, investment bank Allen & Company’s annual gathering of technology and entertainment sector executives has been rescheduled for July 6-11 in Sun Valley, Idaho.
What Happened: The Allen & Company Sun Valley Conference is formally called as the Allen & Company Sun Valley Conference, but it has earned the nickname “summer camp for billionaires” due to its gathering of extremely well-paid business executives in an expensive resort region.
The conference has become regarded as a staging ground for big corporate negotiations since its inception in 1982. The Walt Disney Co.’s (NYSE: DIS) acquisition of CapCities/ABC in 1995 and Alphabet Inc.’s (NASDAQ: GOOGL) (NASDAQ: GOOG) acquisition of YouTube in 2006 were two of the most prominent transactions that resulted from the gathering.
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What’s Happening Now: The conference is only open to those who have been invited. According to a guest list obtained by Axios, Warren Buffett of Berkshire Hathaway (NYSE: BRK-A), Amazon’s outgoing CEO Jeff Bezos and his replacement Andy Jassy, Mark Zuckerberg, Sheryl Sandberg, Marne Levine, and Dave Wehner of Facebook (NASDAQ: FB), and Bob Iger and Bob Chapek of The Walt Disney Co. are among the executives scheduled to arrive in Idaho.
Commissioner Roger Goodell of the National Football League, NBA Commissioner Adam Silver, PGA Tour Commissioner Jay Monahan, and Activision Blizzard’s (NASDAQ: ATVI) Brian Kelly and Bobby Kotick are also in attendance.
The conference will not be covered by the media on site, but it will be attended by a few high-profile television news personalities, including CBS’ Gayle King, CNN’s Erin Burnett, and CNBC’s Andrew Ross Sorkin.
Twitter (NYSE: TWTR) CEO Jack Dorsey and Tesla Inc.’s (NASDAQ: TSLA) self-proclaimed “technoking” Elon Musk were both conspicuously absent from the event.
Mark Zuckerberg of Facebook will be among the leaders attending Allen & Company’s Sun Valley Conference this year. Flickr/Anthony Quintano (C) 2021 Creative Commons Benzinga.com. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
