In a stratified society in which entry into the market is tightly controlled this all tends to concentrate the brains and, of course, the power at the top and to keep the lower classes stupid. In a totally free market society the circulation keeps the intelligence much more evenly distributed as the rich progeny who have not the entrepreneurial spirit lose the wealth of their parents and sparks among the less affluent flash to the top.
I think you’re speaking more to “success” than to measurable “IQ.”
A lot of successful people’s children marry other successful people’s children and end up with a mixed bag of smarts and not so smarts.