God does not respect persons in reference to their social or economic status. The amount of riches one possesses does not put him in a better relationship with God. James argues that those who trust in riches are in great danger of losing their souls than those who are poor.
The souls of rich are in danger because they have exalted themselves in society to the point that they believe the God who created all things would have special regard for them.

If one thinks that his great possessions or position exalt him above his fellow man in relation to God, then his mind is twisted. It is twisted because he thinks that he can possibly exalt himself as a man to in some way have a closer standing with God.

In the eyes of the world, the rich person would be considered in a high position. However, in Christ he becomes equal with the poor. He is thus humbled in Christ to be considered on an equal basis with all those who are in Christ. For this reason, it is difficult for those who are rich or in high social or political positions to humble themselves at the foot of the cross.

Since the riches of the rich are temporary and limited to this world, then when the riches pass away, the rich pass away if their trust is in riches.

Blessed Sunday everyone