Is it concentrated within that one demographic? Pretty sure there are rich people in all demos. I don’t think anyone makes the argument that any group is smarter(at least anymore, it was an argument previously). So a faulty premise and a straw man argument.
The oldest trick of politicians in the history of man is to blame the plight of one group as the result of unfair behavior of another group. Sometimes there is even a bit of truth there, but it generally doesn’t matter to those in present day circumstances. There are success stories everywhere though. Focusing on those seems more productive than casting blame. There is no time machine.