Socioemotional wealth (SEW) is the homegrown concept of the family business field defined as the “non-financial aspects of the firm that meet the family’s affective needs” (Gomez-Mejia et al., 2007). While it is widely assumed that SEW resides within family firms, we miss empirical evidence of this intuition. In this study, we test empirically the prevalence of SEW in family firms on a sample of 504 family and nonfamily organizations. As we find support for this assumption, we proceed in our quest on analyzing where actually SEW resides within a family context by testing the difference of SEW levels in decision makers and employees, family members and members, and finally looking at differences in the generational stage of the firm. Our findings suggest that SEW is a pervasive element of family organizations, residing not only at the family but at the firm level. This study contributes to the family business research field by analyzing SEW in family and nonfamily firms, providing insights on the locus of SEW in those organizations and directly measuring the construct through the assessment of FIBER dimensions (Berrone et al., 2012).