It was "a once in a lifetime opportunity to meet with one of the world's most successful and knowledgeable businessmen, " according to Anne Thimsen, a second-year student who organized the trip for 27 MBA classmates at the University of Iowa's Tippie School of Management.

CNN: Hearing from the experts

Her first trip to Peru dates back to her student years in 1960.

UNESCO: The Spirit of the Andes

The trip was not school-sanctioned, instead being organized by parents and WorldStrides, a student travel company, Biven said.

CNN: Tour bus wrecks in Kentucky; dozens sent to hospital