Lots of Millionaires on Facebook - NBC 7 San Diego

Lots of Millionaires on Facebook



    Lots of Millionaires on Facebook
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    Have any of your friends clicked "Like" on caviar, limousines, monocles, and $10,000 bills?

    Facebook has successfully attracted a slew of super-rich users, according to a new study. Upwards of 70 percent of wealthy folks are on the site, while a mere 60% of "little people" are on Facebook.

    Respondents said that they saw the site more as a social opportunity than a business opportunity. Just slightly more than half use the site for personal interactions.

    But among those 30 percent of users who aren't networking, most said that they simply didn't have time. (Probably too busy counting money.) And only about 20 percent of the rich Facebook users said that they use it every single day.

    Before you start drawing too many conclusions, it's worth noting that the numbers are far from conclusive. Only 46 people were surveyed, each worth at least $5 million, by SEI Wealth Network. The firm provides "wealth management services," which is a nice way of saying, "can we hold your money while you're not using it?" All told, SEI handles over $500 billion in assets. For that money, they could almost buy a tiny sliver of Facebook.

    Facebook certainly keeps some well-heeled company. A Russian company that invested highly in the company recently filed for an IPO, seeking to raise about a billion dollars. The company is valued at just under $6 billion, and owns a few percentage points of Facebook, Groupon and Zynga.

    The only thing that makes more money than Facebook is probably pornography. And Facebook is doing what it can about that: earlier this week, the company filed suit against Faceporn.com, a website that does exactly what it sounds like. Did Facebook see them as a competitor?