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magfrump comments on High Status and Stupidity: Why? - Less Wrong
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It seems like you missed one hypothesis: maybe you're mistaken about the people in question, and they actually never were all that intelligent. They achieved their status via other means. It's an especially plausible error because they have high status--surely they must have got where they are by dint of great intellect!
Some people seem to or claim to gain status from intelligence, especially academics.
Aside from that I believe (though I don't really have evidence) that it is in evidence that high status and intelligence correlate somewhat, though this correlation breaks down at very high levels of intelligence (but not at high levels of status as far as I know).