Sun Valley, the event colloquially known as “summer camp for billionaires,” kicks off Tuesday. But moguls may not be as relaxed as usual, with darkening economic clouds and choppy leadership transitions.
, the annual event colloquially known as “summer camp for billionaires,” kicks off as usual on July 5.
But the moguls who flock to the Allen & Co. retreat may not be as relaxed as usual when they touch down at the Sun Valley Lodge in the Idaho resort town: From darkening economic clouds to choppy leadership transitions at some of the most storied media companies, there are plenty of reasons for the 1% of the 1% to be breaking a sweat these days.
The stock market’s roller coaster ride in the first half of the year means that some regulars at the annual gathering hosted by investment bank Allen & Co. will be arriving with much-diminished market caps. Shari Redstone, chairman of Paramount Global, and, CEO of the newly minted Warner Bros. Discovery, may be among those commiserating about taking brutal equity losses. Although Warner Bros.
Here’s a deeper look at what the CEOs and media barons should expect when they hit the posh mountain retreat in the Sawtooth Mountains., the embattled Disney chief, and Bob Iger, the man he has struggled to replace, are on the guest list for the 2022 iteration of Sun Valley. And it’s not exactly a secret that the two Bobs are barely on speaking terms these days.
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