SkyBridge Alternatives Conference
{{Short description|Annual hedge fund conference}}
{{Infobox recurring event
| name = SALT
| image =
| caption =
| location = New York City, New York, U.S.
| years_active =
| first = 2009
| founders = Anthony Scaramucci
| dates = May
| frequency = Annual
| next =
| attendance =
| genre = Conference
| sponsor = SkyBridge Capital{{Cite news |last=Kokalitcheva |first=Kia |date=September 19, 2022 |title=Crypto gets top billing at SkyBridge SALT event amid market 'winter' |url=https://www.axios.com/2022/09/20/crypto-skybridge-salt-event-top-billing-market-winter |work=Axios |access-date=June 2, 2024}}
| budget =
| patron =
| organized =
| website = {{URL|salt.org}}
}}
The SkyBridge Alternatives Conference (often stylized SALT or SALT iConnections) is an annual hedge fund conference sponsored by SkyBridge Capital that started in 2009. The world's largest hedge fund conference, it is considered by The New York Times to be "one of Wall Street's most prominent gatherings"{{Cite news |last=de la Merced |first=Michael J. |date=2017-01-17 |title=Trump Aide Scaramucci Sells Investment Business to Chinese Consortium |url=https://www.nytimes.com/2017/01/17/business/dealbook/trump-aide-scaramucci-sells-investment-business-to-chinese-consortium.html |access-date=2024-06-02 |work=The New York Times |language=en-US |issn=0362-4331}} and by Reuters to be a flagship conference for Wall Street. Traditionally held in Las Vegas, Nevada, the conference moved to New York City in 2021.{{Cite news |last=Herbst-Bayliss |first=Svea |date=September 15, 2021 |title=Flagship Wall St conference sees record attendance, run on steak |url=https://www.reuters.com/business/finance/flagship-wall-st-conference-sees-record-attendance-run-steak-2021-09-15/ |publisher=Reuters |access-date=June 1, 2024}}{{Cite news |last=Velati |first=Alyson |title=That's hot: Paris Hilton and Steve Cohen expected at Anthony Scaramucci's SALT, as hedge funds celebrate their comeback at one of the industry's biggest conferences |url=https://www.businessinsider.com/anthony-scaramucci-skybridge-capital-salt-conference-hedge-funds-2021-9 |website=Business Insider |access-date=2024-06-02 |language=en-US}} The conference is known for hosting talks by "high-profile market experts, politicians and show business personalities".{{Cite news |last=Cox |first=Jeff |date=2017-01-17 |title=Trump adviser Scaramucci sells his hedge fund business |url=https://www.cnbc.com/2017/01/17/trump-adviser-anthony-scaramucci-sells-skybridge-capital.html |publisher=CNBC |access-date=2024-06-02 |language=en}}
History
Founded in 2009 by Anthony Scaramucci, SALT has evolved into a three-day conference{{Cite news |last=Levy |first=Rachael |title=Hedge Funds No Longer Stars of Their Flashiest Conference |url=https://www.wsj.com/articles/hedge-funds-no-longer-stars-of-their-flashiest-conference-11557489601 |access-date=2024-06-02 |work=The Wall Street Journal |language=en-US}} that initially caused his rise to fame.{{Cite news |last=Abu Omar |first=Abeer |date=2024-02-29 |title=Scaramucci's SkyBridge Jumps 16% This Year as Bitcoin Rallies - BNN Bloomberg |url=https://www.bnnbloomberg.ca/scaramucci-s-skybridge-jumps-16-this-year-as-bitcoin-rallies-1.2040934 |access-date=2024-06-02 |website=BNN Bloomberg |agency=Bloomberg News}} The inaugural conference took place in May 2009 in the ballroom of the Encore Las Vegas.{{Cite web |last=Scaramucci |first=Anthony |author-link=Anthony Scaramucci |date=October 24, 2016 |title=How Anthony Scaramucci 'Hopped Over the Rabbit Hole' |url=https://fortune.com/2016/10/24/anthony-scaramucci-book-salt-conference/ |access-date=2024-06-02 |website=Fortune |language=en}}
The 2012 conference featured a performance by Maroon 5 and speeches by Al Gore and Sarah Palin.{{Cite news |last=Pressler |first=Jessica |date=2012-05-04 |title=How Anthony Scaramucci Attracts Clients -- New York Magazine - Nymag |url=https://nymag.com/news/business/themoney/anthony-scaramucci-2012-5/ |access-date=2024-06-02 |website=New York Magazine |language=en}} That same year saw the launch of SALT Singapore,{{Cite news |last=Yamazaki |first=Tomoko |date=October 16, 2012 |title=Scaramucci to Raise Hedge-Fund Bets in Asia With SALT |url=https://www.bloomberg.com/news/articles/2012-10-16/scaramucci-to-raise-asia-hedge-fund-bets-as-salt-comes-to-region |access-date=June 2, 2024 |work=Bloomberg}} which was later rebranded SALT Asia. By 2014, SALT Asia was reported to attract approximately half as many attendees as its larger Las Vegas counterpart.{{Cite news |last=Delevingne |first=Lawrence |date=2014-03-18 |title=Hedge fund showcase event SALT looks to exit Singapore |url=https://www.cnbc.com/2014/03/18/hedge-fund-showcase-event-salt-may-look-to-exit-singapore.html |access-date=2024-06-02 |website=CNBC |language=en}}
In 2017, the attempted sale of SkyBridge Capital to HNA Group resulted in the SALT conference being spun off into its own entity{{Cite news |last=Stevenson |first=Alexandra |date=2017-05-19 |title=Anthony Scaramucci, Hedge Fund Showman, Finds Himself in Limbo |url=https://www.nytimes.com/2017/05/18/business/dealbook/anthony-scaramucci-skybridge-capital-trump.html |access-date=2024-06-02 |work=The New York Times |language=en-US |issn=0362-4331}} and Scaramucci's divestiture to join then-President Donald Trump's administration.{{Cite news |last=Beilfuss |first=Lisa |title=SkyBridge Capital Founder, an Adviser to Donald Trump, to Exit Business |url=https://www.wsj.com/articles/scaramucci-leaves-skybridge-capital-1484670869 |access-date=2024-06-02 |work=The Wall Street Journal |language=en-US}} Eleven days after his hiring, he was fired by Trump and returned to SALT. The proposed sale, which caused a hiatus in 2018,{{Cite news |last1=Herbst-Bayliss |first1=Svea |last2=Delevingne |first2=Lawrence |date=January 24, 2018 |title=Scaramucci hits pause button on Las Vegas hedge fund party |url=https://www.reuters.com/article/idUSKBN1FD2T1/ |access-date=June 2, 2024 |work=Reuters}} did not complete, with HNA Group withdrawing its bid.
Starting with the 2019 conference, the conference's focus shifted from being predominantly hedge fund focused to attracting wider audiences. It features world leaders, after-hours parties, and a concert. The 2019 conference included a performance by John Fogerty. Speaking with Reuters in 2019, which noted how the conference was more subdued than in previous years without a party atmosphere, Scaramucci stated "What we are trying to do is very sober".{{Cite news |last=Herbst-Bayliss |first=Svea |date=May 9, 2019 |title=Scaramucci celebrates hedge funds in Vegas at SALT with less glitz |url=https://www.reuters.com/article/idUSKCN1SF2CM/ |access-date=June 2, 2024 |work=Reuters}} The conference experienced its second-highest attendance that year, with attendees interviewed by Reuters appreicating "the faster-paced program" and "subdued tone", which they felt "was more appropriate for the current times"
The 2023 conference featured an interview with Dr. Garry Nolan about Unidentified flying objects which was hosted by SALT managing partner Alex Klokus.{{Cite web |title=Stanford Professor Says Aliens Are '100%' Living Among Us {{!}} 98.1 The Breeze |url=https://981thebreeze.iheart.com/featured/the-morning-breeze/content/2023-05-24-stanford-professor-says-aliens-are-100-living-among-us/ |access-date=2024-05-17 |website=The Morning Breeze w/ Carolyn McArdle & Cort Johnson |language=en}}{{Cite news |last=Chung |first=Frank |date=May 20, 2023 |title=Stanford professor says aliens are '100 per cent' on earth, US is 'reverse-engineering downed UFOs' |url=https://www.news.com.au/technology/science/space/stanford-professor-says-aliens-are-100-per-cent-on-earth-us-is-reverseengineering-downed-ufos/news-story/041694ef5df4791fbdfa303a08f34a9c |access-date=June 1, 2024 |work=News.com.au}} Klokus hosted another object discussion with retired Lieutenant colonel Karl Nell, a former member of the Unidentified Aerial Phenomena Task Force, at the 2024 conference.{{Cite web |last1=Whiteside |first1=Steph |last2=Coulthart |first2=Ross |date=2024-05-30 |title=Aliens are interacting with humans: Ret. Army Col. |url=https://www.newsnationnow.com/space/ufo/aliens-interacting-humans/ |access-date=2024-06-02 |website=NewsNation |language=en-US}}{{Cite news |date=May 31, 2024 |title=Excoronel de EE UU: «La inteligencia extraterrestre existe e interactúa con la humanidad» |url=https://www.elnacional.com/mundo/excoronel-de-ee-uu-la-inteligencia-extraterrestre-existe-e-interactua-con-la-humanidad/ |url-status=live |archive-url=https://web.archive.org/web/20240531122959/https://www.elnacional.com/mundo/excoronel-de-ee-uu-la-inteligencia-extraterrestre-existe-e-interactua-con-la-humanidad/ |archive-date=May 31, 2024 |access-date=June 1, 2024 |work=El Nacional |language=ES}}
Attendance
The largest hedge fund conference in the world,{{Cite news |last=Fortado |first=Lindsay |date=July 26, 2017 |title='Relax, Scaramucci isn't touching your money' |url=https://www.ft.com/content/0ea5ad3a-725e-11e7-93ff-99f383b09ff9 |access-date=2024-06-02 |website=The Financial Times}} SALT was referred to by journalist Lawrence Delevingne in 2014 as "the Super Bowl of hedge funds".{{Cite news |last=Stevenson |first=Alexandra |date=2016-06-17 |title=A Who's Who of Financiers Is Expected at Trump's New York Fund-Raiser |url=https://www.nytimes.com/2016/06/17/business/dealbook/a-whos-who-of-financiers-is-expected-at-trumps-new-york-fund-raiser.html |access-date=2024-06-02 |work=The New York Times |language=en-US |issn=0362-4331}} As of 2018, SALT has averaged 1,800 attendees and hosted former US Presidents Bill Clinton and George Bush.