This was puzzling to me for a long time, as I thought it was a blanket condemnation of wealth, kind of socialistic. But recently I’ve had a new insight, when reflecting on how pagan and amoral so many celebrities and politicians are, how some even actively work toward the general breakdown of social restraints or pervert religion for their own ends.
I think “wealthy” also includes the famous and successful. When you have a measure of worldly success I think there is a tendency to believe you did it all on your own, and that you don’t need any help or grace, and to grow distant from God and get kind of arrogant. You get busy with your latest acquisitions, love affairs, travel, even publicly charitable works, but lose the humility. We saw this even with worldly priests like Father Coughlin. At least until the end. It takes a pretty strong spirit to not let that happen when the world is at your feet.