SAM Magazine--December 4, 2012--The Summit Series announced yesterday that the group has agreed to purchase Utah's Powder Mountain. Published reports claim the price tag for the deal was $40 million.

SAM Magazine--December 4, 2012--The Summit Series announced yesterday that the group has agreed to purchase Utah's Powder Mountain. Published reports claim the price tag for the deal was $40 million.

According to Wikipedia, Summit Series is an American organization that hosts events for young entrepreneurs, artists and activists. Events organized by the group include invitation-only retreats and discussions focused on business practices, technological innovation, and raising awareness and funds for various charitable causes. Since its foundation in 2008, the organization has raised more than $2 million for charitable and non-profit organizations.

The goal for Summit Series at Powder Mountain is to create a residential community on the southern side of the mountain that promotes environmental responsibility and sustainability, while becoming a home base for the community and its events. Plans for the ski area were not disclosed, but most assume it will be business as usual.

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