Not all rich people are geniuses – most of them are just lucky. Professor and author Brian Klass joins us to debunk a common misconception about wealth – that all those who have it are smarter than average. Klass uses probability to explain that though this is an easy assumption to make, it’s technically not correct. He points to Elon Musk as a case study, noting that while Musk's skills have contributed to his achievements, his success also depends on his pre-existing resources and collaboration with others. In situations where Musk has worked individually (such as during his acquisition of Twitter), he has seen less success, and, ultimately, less profit. The key takeaway here is that wealth is not directly correlated with wealth is not directly correlated with brain power. Thinking smarter and working harder does not always make you rich; most of the time, it’s just about being positioned at the luckiest spot on the bell curve.
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