To show the relative proportions of the various subpopulations in the US, I’ve constructed the Venn diagram above wherein each subpopulation is represented (approximately) by the area of its circle.
Statement: If IQ is important for success in life, why are most billionaires not people with a Ph.D.?
Discussion: The red circle represents the set of people with Ph.D.’s and the yellow circle the number of millionaires. The fact that most of the red circle lies inside the yellow circle indicates that most Ph.D.’s are millionaires. Furthermore that fact that most of the green circle lies inside the yellow circle indicates that most of the people with IQ > 130 are millionaires. The fact that most of the red circle overlaps the green circle indicates that most Ph.D.’s have IQ >130.
The billionaires who are Ph.D.’s are represented by the area where the blue circle overlaps the red circle. The fact that most of the blue circle is outside the red circle indicates that most billionaires are not Ph.D.’s. The reason for this is that many self-made billionaires like, Jobs, Bezos, Gates and Musk abandon post graduate studies to enter entrepreneurial ventures. Those who pursue a Ph.D. are usually more interested in academic research or finding corporate employment. A high IQ represents the potential to pursue any career of your choice and a high opportunity to build wealth, but reaching billionaire status requires, in addition, a special interest in pursuing an entrepreneurial venture and a generous set of opportunities. For a closer look at the IQ’s and life trajectories of some familiar billionaires, visit: https://www.intelligence-and-iq.com/are-the-billionaires-smarter-than-most-of-us/
