It's Official: 4 Young Founders Just Bought A $40 Million Mountain To Party On

For the past year, it's been known that four entrepreneurs, Elliot Bisnow, Brett Leve, Jeff Rosenthal and Jeremy Schwartz, have been trying to buy a mountain in Eden, Utah.

There, they want to host Summit Series, a popular, startup conference attended by a younger set of entrepreneurs who like to work hard and play hard.

Today, the lofty $40 million party purchase became official. Here's an email the four 20-something founders sent to members this afternoon:

We are excited to announce that Summit has officially purchased Powder Mountain, the largest ski mountain in the United States. We are well on our way to creating the permanent home of Summit, an epicenter of innovation, culture, and thought leadership on nearly 10,000 acres in Utah's Wasatch Mountains.

You can get the full download on the project via The Next Web and ESPN.

Things are moving quickly here in Eden. The core infrastructure project, which includes a 1.5 mile long road bringing utilities to our new village, has already begun. We could not have done this without tremendous support from Powder Mountain, the Ogden Valley, Weber County, and the state of Utah. We are humbled to be here and hope to share the passion and expertise of the Summit community with our new neighbors for decades to come.

Over the coming months and years we look forward to hosting events at Summit Eden that continue to draw the Summit community together and catalyze collaboration and positive growth.

Lastly, we'd like to take this opportunity to thank everyone who has supported us along the way and helped shape the vision of what this place will become over the next 100 years. None of this would have been possible without you.

With love and admiration,

-The Summit Team

Summit Series was founded in 2008 and the first gathering had 19 people. Now it attracts hundreds of attendees. Events have been held in Mexico, on a Caribbean cruise ship, and in Squaw Valley, California.

The conference, which is usually three or four days, has a reputation for being an amazing networking experience, full of non-stop partying paired with an stellar guest list. Past attendees have included Richard Branson, Bill Clinton, and Russell Simmons.

So, what does a $40 million entrepreneur get-away look like?