*News Flash* – Rich people like Facebook.

Posted on October 22, 2010


Nothing really surprising here, rich people like social networks like Facebook- they really have the time and the network! Seriously, all the data surfacing about social networks is that every body likes them in some form or another, be it Facebook, twitter, Linkedin or Keneva (or social networks like these).

Humans are social creatures and apparent from the new capital fund that has Facebook  teaming up Amazon, a number of telecoms and a major venture capital firm to create the first “social fund,” which will consist of $250 million to expedite future social media startups, this trend will continue.

The interesting thing will be how social networks grow and develop in the digital world as compared to the reams of research done by any anthropological experts on human migration or medical research might suggest viruses interact in the physical world.

SEI has new polls that show affluent individuals like social networks. OAKS, PA., Oct. 19, 2010 A new Quick Poll from SEI (NASDAQ: SEIC) today showed that 70 percent of high-net-worth individuals surveyed are users of Facebook and other social media sites. Thatís considerably more than the number of daily social media users among the general populace. According to an August, 2010 report from the Pew Research Center, titled Older Adults and Social Media, 61 percent of Americans ages 18 and over have used a social networking site.
However, the Quick Poll results make it clear that wealthy individuals have a hard time squeezing in their social media time ñ just 17.4 percent of respondents said they use social media on a daily basis. While 38 percent of those surveyed by Pew had used a social networking site in the previous 24 hours.

SEI surveyed 46 wealthy individuals with more than $5 million in investible assets. Of those surveyed that use social media, 50 percent said they use Facebook. Thirty-seven percent of respondents said they visit YouTube, while just under 35 percent use LinkedIn.

“Wealthy individuals are engaged with social media even more than the rest of the American public,” said David McLaughlin, Senior Managing Director for the SEI Wealth Network®. “As a company that prides itself on innovation, weíre pleased to see this constituency adapting to and even embracing changing cultural trends.”

For the most part, high-net-worth individuals see social media as a personal activity rather than a business tool. More than half (51 percent) of the Facebook users surveyed say their account is for personal use.

Not everybody is on board with the social media revolution ñ 31.8 percent of the respondents said they have no time for it.

Posted in: Facebook