The majority of people think that billionaires are smarter than their less wealthy peers.
Some even turn to the really wealthy for advice in all spheres of life since they must know something the rest of us do not, to be so rich, right?
However, a recent study disproved that notion, suggesting that wealthy individuals could really be not only just like the rest of us but often even less intelligent!
According to the new study that was published in the European Sociological Review, IQ and earning potential are strongly correlated up to a threshold of $64,000 ahttp://Billionaires year.
From that point on, the link is almost nonexistent.
The top 1% financially, or the billionaires, were discovered to be less intelligent than those immediately below them after surveying 60,000 men.
Intelligence and economic success have previously been tied in other research on how people become billionaires.
However, according to IFL Science, these older studies have not taken into account the relative skills of top earners.
Researchers now looked at information from Swedish military conscripts, including cognitive test results and work statistics, to investigate this incidence.
With the use of 11 years worth of labor market data as well as the results of earlier cognitive, physical, and psychological tests, 59,400 men were monitored.
To see whether there were any connections to billionaires, the data was matched to their salary and level of work reputation between the ages of 35 and 45. The findings showed that as cognitive capacity increased, salary and status also increased.
However, when salaries rose to their highest levels, intellect appeared to stall.
Similar to the billionaires research by the European Social Review, any disparities in aptitude between those earning above and slightly below $64,000 a year stopped once people reached that level of income.
Furthermore, IQ did not rise above a score of 70.
Additionally, the research revealed that billionaires (or the top 1% of earners) performed worse on cognitive ability tests than people in the somewhat lower income range.
These results demonstrate that, although higher IQ may assist a person in advancing toward better incomes, it doesn’t really matter as much as we’d think.
It is important to note, however, that the study is limited by the sample’s lack of variety.
The results cannot be applied to the general population as the assessment was restricted to men.
In order to find out if billionaires are smarter than the average person, the authors invite more research using a wider range of samples.
Other research, however, suggests that ultra-success may be prompted by something very different.
In a 2018 research titled “Talent vs. Luck: The Role of Randomness in Success and Failure,” a computer model was used to simulate over 1,000 individuals with 40-year-long careers.
According to the research, pure chance had the most role in the success that millionaires were credited with having.
These subjects have varying degrees of skill, including intelligence, determination, creativity, ambition, and money, much like in the real world.
Throughout their lives, the virtual people were also struck by a variety of “fortunate” and “unlucky” incidents that occurred at random, according to IFL Science.
They may use their expertise to capitalize on a chance that would change their lives and make them millions.
This may be just like a chance opportunity to meet a powerful person in the real world.
But the virtual person would lose some of their riches if a bad circumstance occurred, such as the passing of a close family member.
