Erik Wachtmeister, the founder of a small world (a private online community that captures an existing international network of people who are connected by three degrees of separation) has launched Best of All Worlds. Wachtmeister founded asmallworld in 2004 as an exclusive social networking site for jet-setters. Best of All Worlds, launched this week has already built up 25, 00 members on it’s pr-released iPhone app, including billionaires and members of royal houses. Erik has stated that the new social network is a step above A Small World.

The new social network seeks to empower global social discovery within an intimate and trusted community. It allows you top  discover people, common passions, and compelling information for tomorrow in worlds of shared interests and friends.

BestofAllWorlds will run ad-free for the first month. Revenue will  be generated from fees from services such as hotel and restaurant bookings. The site allows users to set their profile to one of four modes — family, social, party or professional — and join “worlds” or discussion forums focusing on business, food and wine, health or a better world, which includes charitable and philanthropic topics.

Erik Wachtmeister hopes its wealthy membership will appeal to advertisers, and additional revenues will flow from exclusive event tie-ups and lead generation. According to Erik “best” people does not necessarily mean high net worth, it can include opinion leaders, thought leaders,first movers, well educate and networked people and personalities who are very well networked in their fields.