[lamontcg]

A lot of rich people are of above average intelligence though and they're definitely "smart", particularly if they didn't just get their money entirely from their parents.

Stockton Rush was a rich CEO and clearly smart enough to found a company that could build submersibles.

He decided he knew better than everyone else in the world and built a submersible out of composites.

Turned him into a physics jelly sandwich over the wreck of the Titanic.

Being smart and rich doesn't mean that every idea you have is always right.

More or less the same thing applies to the chemists who thought they discovered a room temperature superconductor or Musk buying Twitter. They're all definitely smart, but they make mistakes just like everyone else. When all is at stake is money they often have enough money that they can make a lot of mistakes and lose a lot of money and people only remember the ones that succeeded.

And A lot of what separates smart rich people from smart not-rich people is that rich people can try 20 different stupid ideas before finding a good one, without going completely bankrupt.