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August 8, 2013

Fortune 500 CEOs Largely Shunning Social Media

LinkedIn the Only Network With A Significant Following

Social networking remains low on the priority list for Fortune 500 CEOs, according to a new study.

In fact, approximately 68 percent have avoided social media all together, the study, released Wednesday by Domo and, found.

“CEOs at Fortune 500 companies have been slow to embrace social media, but at least two social networks appear to gaining traction with the chief executives of America’s most successful companies,” reads a press release.

LinkedIn is the most-used social network with nearly 28 percent — or 140 CEOs —having an account, a two percent increase from 2012.  Of the 140 on LinkedIn, 25 have more than 500 connections.

Twitter places a distant second behind the professional social network with 5.6 percent having an account, up from last year’s 3.6 percent.

“The rise of Twitter in particular really points to the need for speed among CEOs,” says founder of and Domo Josh James in a press release. “Business leaders desire information that is quick, succinct and easily digestible. Twitter more than any other social network delivers on that.”

Currently, the 28 Fortune 500 CEOs using Twitter have a combined total of 2,126,564 followers, although 30 percent were fake profiles. Active Fortune 500 CEOs, on average, tweet 0.98 times per day.

Few Fortune 500 CEOs use Facebook, although one leader is popular on the social network: the site’s CEO Mark Zuckerberg has 16,742,363 followers.

The number of Fortune 500 CEOs using Facebook has actually dropped slightly more than half a percent to seven percent from 7.6 percent last year.

Google+, meanwhile, has a measly one percent of the elite group, up just 0.2 percent from 2012.