OpenAI CEO Sam Altman speaks to members of the media as he arrives at the Allen & Company Sun Valley Conference on July 8, 2025 in Sun Valley, Idaho.
Image: Kevin Dietsch/Getty Images
This weekend, dozens of CEOs, tech tycoons, and billionaires packed their bags and jetted out of Sun Valley, Idaho, after the annual four-day Sun Valley Conference (nicknamed the “summer camp for billionaires”) came to a close.
Hosted by the investment banking firm Allen & Co, the conference is essentially a yearly opportunity for some of the world’s most influential businesspeople to rub elbows and talk shop over scenic mountain views.
Aside from giving its attendees a chance to break out their best polo shirts and khakis for an expectant clutch of paparazzi, the secretive retreat has also served as the site of some of the most significant deals over the past four decades. Those include Disney’s acquisition of ABC in 1995, Google’s acquisition of YouTube in 2006, and Amazon founder Jeff Bezos’s purchase of The Washington Post in 2013.
This year’s star-studded cast included OpenAI’s Sam Altman, Apple’s Tim Cook, and Microsoft’s Satya Nadella, to name a few. Here’s everything we know about the 2025 conference so far.
According to a report from The New York Times, one potential deal on the table at this year’s gathering was an acquisition of the online publication The Free Press by the media company Skydance.
David Ellison, Skydance’s CEO, attended the conference alongside Bari Weiss, cofounder of The Free Press. Sources close to the discussion told The Times that Ellison has previously offered Weiss a “wide variety of options” in terms of potential working arrangements if Skydance were to purchase The Free Press, including one scenario in which Weiss would take a major role in shaping the editorial direction of CBS News.
Still, no official agreement has been announced, and The Times did not learn the terms of any potential deals. Fast Company reached out to Skydance and The Free Press for comment.
In the meantime, Ellison is also in the midst of attempting to close a proposed merger with Paramount.
On July 8, just before the start of this year’s Sun Valley conference, Disney and Hearst, co-owners of the cable network A&E Global Media, announced that they were looking to sell the network.
The news follows a larger trend among media companies like Comcast and Warner Bros. Discovery, which are spinning off their respective cable networks in an attempt to purge underperforming parts of their businesses, as traditional pay TV continues on a path of rapid decline.
It’s quite a turn from just a few years ago, when media companies were opting to acquire their rivals in what Variety has called an “arms race” to compete with streaming competitors.
In the wake of the news that A&E is seeking a new buyer, Disney CEO Bob Iger attended Sun Valley alongside media moguls including Comcast head Brian Roberts, Sony Pictures Entertainment CEO Ravi Ahuja, and Warner Bros. Discovery head David Zaslav.
At the end of the conference, Business Insider caught up with Flowcode CEO Tim Armstrong, who has attended Sun Valley annually for more than a decade. Armstrong shared that, unsurprisingly, this year’s hottest topic of discussion was AI.
It was the “1,000-pound gorilla” in “every conversation, every meeting,” Armstrong told the publication, adding that executives spent a good chunk of the retreat sharing their ideas on how to implement new AI tools.
While the general public waits to hear more details about deals made behind closed doors at this year’s conference, there is one element of the retreat that the average American had full access to: the fashion.
This year, like in years before, saw an excess of bland polo shirts, jeans, ball caps, and button-downs.
In an interview with Fast Company, L.A.-based personal stylist Mary Komick explained that “quiet luxury” is the generally accepted dress code at Sun Valley, with execs opting for neutral shades and understated cuts.
“They’re showing off to each other, with their stealth luxe style noticeably recognised by those in these circles,” Komick noted.
Still, there were a couple of new trends to emerge this year. Ivanka Trump and Spanx founder Sara Blakley both opted for Western-inspired accessories, while several other attendees stepped out in simple outfits accented with over-the-top sunglasses, including Altman (who donned a $400 pair of sunnies inspired by 1970s-era ski masks) and Ferrari chairman John Elkann (who wore a vintage pair of Tom Fords that were chunky enough to resemble an Apple Vision Pro).
ABOUT THE AUTHOR
Grace Snelling is an editorial assistant for Fast Company with a focus on product design, branding, art, and all things Gen Z.
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