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and the rich man should boast in his humiliation, because like flowering grass he will pass away. (James 1:10)
Here in this verse, James is talking to the opposite of those living in poverty. Rather, he is talking to the rich (πλούσιος plousios) man. James does not refer to the rich man as a brother, so we cannot know for sure if he is referring to a Christian. Nevertheless, we can extrapolate (infer, draw a conclusion) that here we are talking about a brother as well. Douglas J. Moo rightly points out that, “‘rich’ in v. 10 is most naturally taken as a modifier of “brother” in v. 9, parallel to “humble”: ‘Let the brother who is lowly … but let [the brother] who is rich.…’” Peter H. Davids asks the same question and reaches the same conclusion, “First, who is this wealthy person? Is ὁ πλούσιος a modifier of an understood ὁ ἀδελφός in parallel with v 9, or does one encounter a poor/humble brother and a rich non-Christian? Structurally the former alternative appears most likely, for the sentence demands that καυχάσθω be understood as the verb of v 10.” So, this Christian brother is literally possessing tremendous material wealth in abundance. So, the rich man is told that he should boast (καυχάομαι kauchaomai) in his humiliation (ταπείνωσις tapeinōsis). So, here boast is not found in the Greek but is provided from the previous verse because verse 10 lacks a verb, so the verb is carried over. We have Sophie Laws reaching the same conclusion. “The phrase ho plousios [“the rich”] contains no noun, and it is natural to supply the one in the previous verse, adelphos [“brother”]; similarly, v. 10 lacks a main verb, and if this too (‘boast’) is supplied from the preceding verse it is reasonable to take it that it will have the same sense.”
Moreover, common sense tells us that it is highly doubtful that James would be offering advice to a non-Christian when the letter is written specifically to the Christian community. But we went the extra mile because scholars are split on this. The rich man who comes into a relationship with Jesus Christ is a humiliation (ταπείνωσις tapeinōsis) for him, as he comes to the realization that his wealth is temporary and comes to realize his riches can deceive him into a false sense of security. Furthermore, his riches can be an ongoing trial of his clinging to his wealth, his pursuing more and more wealth, causing him to stumble spiritually.
When a wealthy person comes to an accurate or complete knowledge of the truth, he will realize that his trusted wealth is fleeting. He will then clearly understand “the deceitfulness of wealth.” (Matt. 13:22) Now, this rich person must humble himself, as shown in God’s Word that he and his riches need to be understood from the proper perspective. In other words, it is not the riches that are wicked, but rather the love of money. In addition, he must see that spending excessive time pursuing further wealth is a waste. It will cause him to miss family time, personal Bible study time, preparing for Christian meetings, attending, and participating in Christian gatherings. In addition, chasing after wealth will cut into the time he could spend sharing the good news with others. Namely, it will affect his spirituality. (1 Tim. 6:9-10) If he ponders the Scriptures, he will see that the spiritual blessings outweigh any material wealth accumulated in multiple lifetimes. – See Philippians 3:8.
Rather than an elevated belief in oneself, which is often a direct result of riches, the apostle Paul encouraged just the opposite. He wrote, “Do nothing from selfishness or empty conceit, but in humility consider others as more important than yourselves. Everyone should look out not only for his own interests, but also for the interests of others. Have this mind in yourselves, which was also in Christ Jesus.” (Phil. 2:3-8) The rich must also consider that the world sees the wealthy man in an elevated position. However, once he becomes a Christian, a disciple of Jesus Christ, this may very well change as the world will begin to hate him due to his relationship with Jesus. (John 15:17-19; See also John 7:47-52; 12:42-43) Now, the rich man, who has become a disciple of Christ, possessing spiritual riches, can rejoice in his humiliation. In the end, it must be remembered, the splendor of wealth is temporary, as the rich one will eventually grow old and die. Generally speaking, riches cannot add a single hour to his life. – Psalm 49:6-9; Matthew 6:27.
To give his readers a word picture of this humiliation, he draws our attention to vegetation, when he writes, “like flowering (ἄνθος anthos) grass (χόρτος chortos) he will pass away (παρέρχομαι parerchomai).” This flowering grass could refer to the wildflower, which lives but a day or two, with its beauty lasting but a moment. This would be yet another case of James drawing on the Old Testament, for the imagery of the fading flower is often found in the OT. (e.g., Job 14:2; Ps 90:5-6; 103:15; Isa 40:6–7) This is a contrast between man’s current momentary imperfect existence with God’s unchangeable perfection. Simply, James emphasizes that the rich’s wealth and standing will always be especially fleeting or temporary.
The Bible offers a balanced view of wealth while pointing out all the dangers of having it. The Bible at no point ever says being wealthy is a bad thing. In fact, it says that riches can serve as protection, security. The Bible also never says that one should not work toward a better life, a more financially stable life for his family. Simply heed the warnings from God’s Word, be objective and balanced in your pursuits, and put God, family, and spirituality above all.
 Douglas J. Moo, The Letter of James, The Pillar New Testament Commentary (Grand Rapids, MI; Leicester, England: Eerdmans; Apollos, 2000), 66.
 Peter H. Davids, The Epistle of James: A Commentary on the Greek Text, New International Greek Testament Commentary (Grand Rapids, MI: Eerdmans, 1982), 76–77.
 Sophie Laws, The Epistle of James, Black’s New Testament Commentary (London: Continuum, 1980), 62–63.