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Media is a powerhouse of articulation as well as change.

Simon Mainwaring, the award-winning social media specialist syas "The most impactful way consumers can assert their power is to become mindful shoppers, giving their dollars only to socially responsible companies. In today's world of social media and smart phones, this is easy to do".

Social media is a tool that has helped businesspersons reach out to their audiences like never before. It is a business strategy, no doubt, a clever one indeed.

In one of our previous posts about entrepreneurs who are draw a $1 salary while largely thriving from other business avenues, hints at a important trend in the industry today. Traditional business strategies are slowly waning off and social media has enabled a whole new culture of corporatism to flower.

The latest breed of billionaire barons have risen from the annals of social media and technology coming together to evolve a business model of their own. They are suave, tech-savvy, street smart and socially committed citizens.

Here is an apt infographic by Staff.com, comparing the legacies of the old and the new strands of billionaire barons.

Do these fortune-makers owe their success exclusively to a social media strategy or are traditional business methods still hold the key? Let us know what you think by leaving a reply in the comments section below.

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