No... but an education is important. All too often you see people going to college because they think they have to in order to get a good job. But then they waste their time because the college education isn't necessarily in the field where they want to work; for some they'd be better off getting their education from a trade or technical school instead of a college. And companies are beginning to realize too that a college diploma doesn't mean that the person learned anything relevant while at college; they'd rather hire someone that has the education and / or experience in the field they want to work in rather than someone with a college degree but no real understanding of the job that they are applying for.
If you actually look at many of the leaders in industry, several never graduated from college (in fact some never even went), yet no one can doubt their intelligence (esp. in their specialized field) or their business acumen. Here are a few well known people that never graduated from college: Mark Zuckerberg (Facebook), Steve Jobs (Apple), Bill Gates (Microsoft), Albert Einstein (although received a PhD, never actually received an undergraduate degree. Moreover, the PhD was obtained at a vocational school, not a liberal arts college), Thomas Edison (Inventor), Ben Franklin (Inventor), Carly Fiorina (HP), F. Scott Fitzgerald (Author), Henry Ford (Ford), John Major (PM of Britain), David Murdock (Real Estate mogul), Jim Skinner (CEO of McDonalds for several years), Steven Spielberg (Director / Producer), etc. And I didn't even mention the plethora of musicians, athletes, artists, writers, etc. that also never graduated with a college degree.