60% of wealthy Americans use social networks

Wealthy consumer participation in online social networks dramatically increased to 60% in 2008, from 27% in 2007, according to The Luxury Institute. Participation levels in leading social networks are: 16% for MySpace, 13% for LinkedIn, and 11% for Facebook. The wealthy average membership in 2.8 social networks, with an average of 110 connections. 65% of wealthy consumers say that giving out personal data without permission will cause them to disconnect; 63% have an interest in “do not track” lists.