Sorrell sets sights on Sun Valley amid WPP row
SIR Martin Sorrell has shrugged off legal threats from his former firm and will this week jet out to one of the biggest – and most secretive – business gatherings in the world.
The embattled advertising guru is locked in a bitter row with WPP, which says he may face censure over his new marketing services venture. Sorrell, who set up S4 Capital shortly after his resignation, last week received a legal letter from WPP threatening that his competing bid for Dutch ad agency MediaMonks may see him lose future share payments worth up to £20 million.
Sorrell’s response has been to plan a trip to Idaho’s Sun Valley conference, The Mail on Sunday has learned, where he will rub shoulders with some of the world’s most famous business leaders.
The guest list this year is said to include Amazon’s Jeff Bezos, Facebook boss Mark Zuckerberg, legendary investor Warren Buffett, media mogul Rupert Murdoch and Apple’s Tim Cook. Ivanka Trump, the daughter of President Donald Trump, and her husband Jared Kushner were among the attendees at last year’s conference, hosted by investment bank Allen & Co.
It emerged last week that Sorrell, who quit as chief executive of WPP in April following a board investigation into his conduct, is competing with his former company to buy MediaMonks as he seeks new firms to build what many say could soon become a rival to WPP.
Last night WPP’s thirdlargest shareholder urged the firm to ‘move on’ from its ongoing Sorrell quarrel. David Herro of Harris Associates said: ‘Both parties need to move on as per what was agreed upon.’