Do existing social inequalities translate into social media privacy management? This study examined racial/ethnic differences in privacy concerns and privacy management behaviors on social media to evaluate empirical evidence for an online privacy divide in the U.S. In addition, we tested two prominent theoretical perspectives–resource-based and identity-based explanations–for such divides. Results from an online survey ( N = 1,401) revealed that compared to White social media users, Latinx and Asian users reported higher horizontal and vertical privacy concerns, Latinx users employed horizontal privacy management strategies more frequently, Black users reported higher horizontal and vertical privacy self-efficacy, and Latinx users reported higher vertical privacy self-efficacy. While unequal distribution of resources (i.e., socioeconomic status) explained some differences among Asian (vs. White) participants, identity-based factor (i.e., perceived discrimination) served to motivate cautious privacy management among Black participants. Theoretical contributions to the privacy and marginalization literature are discussed. Practical implications are provided.