Well I don't agree...
I think many people with money are idiots, but I don't think it is because they have money, I think it is merely because they are idiots to begin with.
I have a friend who has an unbelievably rich father, He was an IB student, scholarships paid for most of his undergrad, he paid the rest, and now because he did so well he got a grant to help him pay for his Doctorate, he pays the rest since the school gives him less than my company gives the file person at our office.
He is not the only example I can give you...
I think it is the person, not the money.
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