Online networking for the other half

Have you ever wondered how the rich network?  Are they truly different from the rest of us?  Technology  and online networking has touched even this group.

Robert Frank reports in his 11/30/07 Wall St. Journal article , "MySpace for Millionaires," about social networking sites for the rich.  These sites are by invitation only and have recently exploded in popularity.  These sites offer peer advice on vacations, parties and wealth management.  High end brands sponsor these sites.  There is also a mix of online and in person events, for example private jet rides for members.  SmallWorld and DiamondLounge are two such sites aimed at the rich.

There is some debate as to the success of these sites.  Everything in this world is for sale and one can buy one's way into these sites.  Also, millionaires don't mix much with billionaires and these sites don't distinguish between different wealth levels.

The wealthy are usually very busy between their work commitments and their social/charity commitments, so they probably aren't browsing the Internet for new friends.  They can afford the best advisors, so they would be less likely to go online to ask about an exotic vacation or investment advice.

Nancy Loderick