But I am confused about what this means in practice, due to arguments like "contacts are very important for business success, rich people get much more contacts than poor people, yet business success is strongly correlated with genetic parent wealth" and such.
Keep in mind that people's genes tend to correlate with their parents' genes. So even if success in wealth is determined by genetics, we would still expect wealth to correlate with your parents' wealth.
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This can be tested by estimating how much IQ screens off race/gender as a success predictor, assuming that IQ tests are not prejudiced and things like the stereotype threat don't exist or are negligible.
National average IQ is strongly correlated with national wealth and development indexes, which I think refutes the hypothesis that IQ mainly affects success as a positional quality, or a proxy of thereof, at least at the level of personal interactions.
And assuming IQ captures everything relevant about the difference.