[NewsSpace=JeongYoung Kim] The Sun Valley Conference, also known as the "Billionaire Summer Camp," continues to garner attention this year.

The Sun Valley Conference, organized by the investment firm Allen & Company, has been a private event held annually in Sun Valley, Idaho since 1983. Gathering around 200-300 influential figures from the fields of information technology (IT), media, finance, and investment, the conference offers a unique opportunity for networking, discussions, and engaging in activities like tennis and golf.

As the world's top leaders from the IT and media industries convene at the Sun Valley Conference, there is considerable anticipation surrounding the conversations and dialogues that will take place.

Given the presence of global corporations and the CEOs of major tech companies, it is expected that discussions on mergers and acquisitions (M&A) will be lively. Noteworthy examples from the past include Disney's acquisition of ABC Broadcasting in 1996 and Jeff Bezos' acquisition of The Washington Post in 2013. Bezos famously engaged in a three-hour conversation with then-CEO Donald Graham, leading to the acquisition without formal negotiations.

However, this year's conference might see a different atmosphere due to challenging global economic conditions, including high inflation and interest rates, which may impede significant deal-making.

According to Bloomberg, "While deals are typically sealed with handshakes at this event, the prevailing economic situation, coupled with the effects of high inflation and interest rates, could create a noticeably different atmosphere."

Sam Altman, CEO of OpenAI, the developer of the generative AI ChatGPT, was spotted at the event held in Sun Valley, Idaho on July 11, as reported by Bloomberg and The New York Post.

Altman was joined by other notable CEOs, including Tim Cook of Apple, Sundar Pichai of Google, Mark Zuckerberg of Meta, Marc Benioff of Salesforce, Shari Redstone of Paramount Global, and Bob Iger of Disney, all dressed in casual attire with short sleeves and shorts.

Regular attendees Warren Buffett, Chairman of Berkshire Hathaway, and Bill Gates, co-founder of Microsoft, are expected to make appearances once again. However, Elon Musk, CEO of Tesla and the world's wealthiest individual, reportedly opted not to attend this year's event, which means an anticipated encounter between Musk and Zuckerberg, who recently launched the social networking service "Threads" and engaged in a public feud on Twitter, is unlikely to take place. 

Rupert Murdoch, the media mogul who used to be a frequent participant, is also anticipated to be absent for the second consecutive year, according to Variety, a U.S. entertainment magazine.

In South Korea, Samsung Electronics Chairman Lee Jae-yong has described the conference as the most important business trip of the year, attending almost every year from 2002 to 2016. It signifies the significance of global networking for Chairman Lee, known as the "king of global connections." However, it is expected that Chairman Lee will once again be absent from the Sun Valley Conference, marking the seventh consecutive year of his absence. An industry insider stated, "It seems that Chairman Lee has decided not to attend the Sun Valley Conference as he has been absent for the past seven years, and there is currently no particular reason for him to attend."

Additionally, as the Sun Valley Conference attracts global corporate leaders, the nearby Friedman Memorial Airport is witnessing a flurry of private jets arriving. Business Insider, a U.S. economic media outlet, reported that over 40 private charter and corporate jets had arrived at the airport on the morning of July 11, with at least 100 more expected throughout the day.