Report: Millionaires Love To Use Facebook

Millionaires love the idea of social networking sites but it seems they rarely have time to use them once they sign up.

Millionaires love the idea of social networking sites but it seems they rarely have time to use them once they sign up.

A poll by SEI suggests that 70% of high-wealth individuals are members of social networking sites, compared with 61% for the general adult US population. Of those who use social media, one in two said they use Facebook, while 37% visit YouTube, and just under 35% use LinkedIn. Half the Facebook users said their accounts were for personal use.

David McLaughlin, senior managing director for the SEI Wealth Network, said: “Wealthy individuals are engaged with social media even more than the rest of the American public.

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