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Date:17/06/11

One Third of Millionaires Use Social Media

According to a survey of millionaires from Fidelity Investments, 85% of respondents use text-messaging, smartphone applications and social media. One third use social media professionally, with 28% using LinkedIn. The average age of the millionaire respondents was 56. The finding disproves one of the enduring myths about the rich: that they are obsessed with privacy.
Of course, millionaires may not be advertising their wealth online. It isn’t like there is a “millionaire” or “billionaire” label on Facebook. And the fact that they are using social-media professionally (especially LinkedIn) implies that their use is highly controlled.
But the fact that so many of them are putting their profiles online shows that opportunities from online networks may now be outweighing the potential privacy costs.



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