They’re probably right as far as the very wealthiest people not necessarily being the highest IQ but having some level of talent and then getting lucky. Bill Gates for example is obviously bright be it fugged up but he’s not a rocket scientist. Same for Phil Knight and most of them but so what.
What they get wrong is that America for all of its problems is still a country that someone with a roughly average IQ that is willing to work hard and make good choices will usually do well for themselves. A few will hit the lottery equivalent and get rich way beyond their IQ… Sean Hannity, Obama, AOC, Biden.
Wealth and IQ have never correlated well. The reason is what people think IQ measures and what it actually measures aren't the same thing. Working in engineering, I know a lot of high IQ people. That doesn't translate into aptitude or common sense in many cases. It also doesn't correlate with how big a risk taker or how risk averse a person is. In fact, some of the most risk averse folks I know are engineers.
You are completely correct about hard work bringing success. A friend of mine hired five people last year. Three were great candidates and knowledgeable, but lazy. They were all eventually fired. Two were so-so candidates but worked their butts off and learned. They're both still working there, one of which he promoted recently. Funny they didn't bother studying that.
