A Look Inside a Facebook for the Filthy Rich
An invitation-only networking site lets the wealthy connect for work and play.
Dec. 4, 2008— -- Recession — and social network glut — be damned! Frank DeRose, managing partner of Ferrata Capital Management, plans to invest at least $1 million into Total Prestige, an invitation-only networking site for one of the world's most underserved internet demographics: the super- and super-duper rich.
The 15-year-old organization used to just be a Rolodex with 50,000 names -- a sort of offline LinkedIn of the Rich and Famous doing introductions in all the non-digital ways. But it's now catching up with technology and taking on an online presence with a social network that launched in September, with plans also for a global rollout of quarterly print magazines in some glittering world capitals.
There are currently around 637 members on the site, and an additional 400 high-profile people have decided against creating a public profile but can still view all the content. Ten members are billionaires. Most of them come from Europe and the Middle East, and range from royalty and entrepreneurs to entertainers.
To get an idea of what these folks are blogging about: One recent post seeks advice for avoiding pirates while yachting up the African coastline.
But after hours activity is not the main thrust -- there are several other networks for that out there, including A Small World and Decayenne (and others mentioned in the comments). This one's not about play. "It's sort of like going to a conference," DeRose told Wired.com. "You're there to network and conduct business."
The network is invite-only, but DeRose offered Wired.com an exclusive pass into its world to check it out. Note: We weren't allowed to show any screenshots to protect the privacy of members.
The site is built on the Ning platform, so it has all of the basic functionality that its other networks have, but DeRose says they will be looking for a developer to update it in the near future. Of course, the design and platform is irrelevant compared with the exclusivity of the company with which you're rubbing virtual elbows.
