What is the benefit of companies having your Facebook information?

They use it to market specifically to you. The demographic information helps them target their sales messages to you.

Targeted advertising.

So how does Facebook make its profits? Is there an information “bank” that Facebook has and any business who purchases a share receives what info they are looking to know?

http://funancials.biz/how-does-facebook-make-money/

All apps on facebook require some or all of your personal info in order for that app to work, which I think is crazy. Which is also why I quit playing games and I don’t have any identifying info on my profile.

I don’t see how your personal info is relevant to making the app work. This is how companies get your info and it’s these companies who may sell your info. Facebook may not directly sell your info, but the apps may.

@AshlynM Not just Facebook that does that, alot of free apps on phones too! Yikes.

Facebook sells access. The ads of the companies are delivered to the precise slice of the Facebook world that is likely to respond to them (which Facebook determines using its database).

None