Every year, billionaires often attend a series of summer events, both to socialize and satisfy personal interests.
Apple CEO Tim Cook and Vodafone CEO Vittorio Colao at Sun Valley in 2013. Photo: Bloomberg.
For more than 40 years, media moguls and tech CEOs have flocked to the annual July Sun Valley Conference Also known as “billionaire summer camp”, the conference organized by investment bank Allen & Co., which attracts big names every July.
“Billionaire Summer Camp”
Here, billionaires can negotiate cooperation, play golf, walk, sail or play tennis. Most of the participants were invited in advance with strict security, even the press could not operate at most of the activities.
This year’s guest list includes media mogul Shari Redstone, Disney Chairman Bob Iger and several tech CEOs such as Apple’s Tim Cook and Meta’s Mark Zuckerberg. They are the ones who are willing to discuss the latest issues related to AI.
Bill Gates is one of the billionaires who will appear in the audience at this year’s Olympics. Photo: Xinhua.
Paris 2024 Olympics
The Olympics are an event for all spectators, but billionaires will enjoy the games in a special way in Paris this year.
One of the richest families in the world, LVMH’s Arnaults, is the main sponsor of the Olympic Games. As a result, members of the clan — including the world’s third-richest man, Bernard — will likely be notable attendees. Billionaires such as Bill Gates, Rupert Murdoch… will definitely be present at this year’s Olympics.
The Guardian reported that this year, the super-rich are spending hundreds of thousands of dollars to watch the most exciting events, meet athletes and sit in the front row of the Opening Ceremony. Tickets to important events such as the women’s gymnastics final cost $6,500 per ticket.
VistaJet sees an increase in the number of private flights to Paris during the Olympic season. At the same time, luxury yacht brokerage company Fraser also opens services such as yacht rentals to watch the windsurfing competition live.
Since the 1990s, Burning Man has become a status symbol of the tech billionaire. Photo: New York Times.
Burning Man (USA)
From an anti-billionaire event, Burning Man has become a gathering place for billionaires for decades. This annual arts festival takes place in the Nevada desert, attracting big names in the tech industry such as Elon Musk, Google co-founder, Sergey Brin and Larry Page from the 1990s — that is, before they became billionaires.
Mark Zuckerberg, Drew Houston and Josh Kushner have all appeared at the fun. Even Ray Dalio, the billionaire hedge fund manager, wanted to see what this party craze was all about, so he wore a pair of curly patterned pants and joined the party in 2019.
Some wealthy – or extremely famous – like Paris Hilton – also attended. They charter private planes to land on the runway of Black Rock (a city temporarily built for the festival), rest in “luxury camps” with air conditioning and private chefs, and travel in colorful, expensive cars.
Alec Baldwin chats with Brad Pitt, Bradley Cooper and Rami Malek during the men’s singles final at the 2021 US Open. Photo: US Open.
US Open 2024 (USA)
Tennis has long been a sport that attracts a lot of money and the US Open is a testament to this. The biggest names in finance, technology and entertainment such as Bill Gates, Jamie Dimon, David Geffen, Jerry Seinfeld and Bill Ackman are regular attendees of this sport. They will travel to Arthur Ashe Stadium to watch the final Grand Slam tennis tournament of the year.
The United States Tennis Association (USTA) is considering renovating the stadium, including “tunnels” outside the main court, adding top-of-the-line amenities. The New York Times reported that each spectator may have to spend up to $175,000 during the tournament.
Tickets to this year’s men’s final are resold for an average of up to $18,000 per ticket, while more advanced tickets can cost up to 6 figures. Luxury sponsors such as Rolex and Ralph Lauren are also willing to spend millions of dollars to attract the attention of the audience.
The exhibition attracts billionaires with more than 100 different yachts. Photo: CNN.
The Monaco Yacht Show
Eventually, billionaires will opt for yachts to end the summer. In September, the super-rich often gather in Monte Carlo to see the superyachts on sale, while also planning their next holiday season. They have an average length of 50 m and own facilities such as a helipad, spa and wine cellar.
The yachts of Paul Allen (co-founder of Microsoft), “casino tycoon” Steve Wynn and billionaire Pier Luigi Loro Piana have been displayed at the exhibition for sale or rent. Among them, the yacht bought for the highest price last year is the Lady Lara, which is 91 meters long with 2 swimming pools (a pool that can be converted into a dance floor) and a movie theater. Owning these gadgets, it costs $245 million.