America's Richest vs Social Media
By: Jacob Gilmore
By: Jacob Gilmore
Social media is a Web service or activity that nearly every person engages in on a weekly or daily basis. Parents use it to connect to old friends, kids use it to create more friendships, and many more. However, what if I told you that a significant amount of America's richest people do not use social media of any form?
In a study of the wealthiest segment of investors, 2014 $25 Million Plus Investor, Spectrem found that 31% of investors do not use any social media platforms. Also, 57% of the previous 31% say they are concerned about the privacy of their information.
As mentioned earlier, age plays a significant role in whether people use social media, as well as how/what they use it for. Among the $25 Million Plus investors, 59% of those aged 65 or older don't use social media. For those investors under the age of 56, 23% say they don't use social media whereas only 16% of investors 55-65 live in a "social-media-free" life.
Only one-half (52%) of the $25 Million Plus investors use Facebook, 40% are on LinkedIn (a professional networking site), and about a quarter (24%) use YouTube. The last and most surprising statistic is that only 17% overall use Twitter for personal and/or professional use.
Now we come back to the question: does age matter when it comes to social media? Does wealth classification also play a role in the likelihood of social media use?
Source: Spectrem Group
Source: Business Insider
I think that a lot of people that do not engage in social media much are people that are to caught up in their lives that they do not have the time or care much about what other people are thinking and doing in their life. If you they only way you communicate with an old friend is through social media, then they are probably not a very close friend of yours. I feel that a lot of people always using social media are people that have to much free time on their hands and care to much about what is going on in other people's lives. I am not saying that social media is a bad thing, I believe that networking is very important, but to a point the use of social media can become all people worry about in their lives. I think that age plays a huge part in social media use, the high school and college generations use it all the time because it was something we all started to use when it was relatively new.
ReplyDeleteIt would seem as though there is a connection between age and social media use. As for the wealthy you could make inferences but, it doesn't seem positive for any absolutes. I would be interested in finding out how big of a role the privacy concern the social media use among the wealthy plays. Maybe, there is something that they see as a concern that we don't.
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