This week, at the “Summer Camp For Billionaires’
the top executives at the biggest and most influential companies in tech and
media, including Apple's Tim Cook and Facebook's Mark Zuckerberg, will get
together at the Sun Valley Resort, a getaway that dates back to 1936, in a tiny
town in the Sawtooth Mountains.
NPR reports that the summer camp 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, reports NPR.
According to the report, Allen & Co. 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. For almost 40 years, its annual Sun Valley conference has been central to its mission.