Posted by: Marshall Sponder | March 26, 2008

If your wealthy there’s a 6 in 10 chance your using Social Networks

Are Social Networks one of the battlegrounds between rich and poor?   Is the Tale of Two Cities, today, about those that have information and use it vs. those that don’t or can’t?

Not sure, but I suspect a study by the Luxury Institute which I heard about from Social Media Today -where  Social Networking Appeals to Wealthy Consumers underscores that those who are perceived to be rich are also a little bit smarter about how they use opportunities and many opportunities are now coming through Social Networking.  I know this for a fact and I live it myself (and I’m not rich).

“…According to The Luxury Institutes latest WealthSurvey, “The Wealthy and Web 2.0”, wealthy online consumers ( average income $287K and net worth just over $2 million) are flocking to social networks.

Their participation in online social sites increased to 60% in 2008, from 27% in 2007.

The most active group is the over-55, wealthy Silver Surfers – their participation increased fivefold, to 49%.


Wealthy consumers belong to about 3 networks and have on average 110 connections.

Interesting – so a measure of “wealth” is how many Facebook friends you have – or MySpace friends – I’ve thought about the number of friends as a influencer score, but not a wealth score.

But maybe it is a wealth score – you can read the Luxury Institute document here


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