Hehe...well it wasn't meant to be a knock-down argument, but an indication that the correlation between intelligence and wealth is not as strong as the OP indicates.

P.J. O'Rourke makes a relevant comment on this question:

Why do some places prosper and thrive while others just suck? It's not a matter of brains. No part of the earth (with the possible exception of Brentwood) is dumber than Beverly Hills, and the residents are wading in gravy. In Russia, meanwhile, where chess is a spectator sport, they're boiling stones for soup.

You're right that the article says proportion of Jews, not proportion of Israelis; I was doing things a bit too fast.