The Chidushei Harim zy’a (quoted in Likutei Harim, page 24) would say that the Yid Hakadosh of Peshischa zy’a and other earlier tzadikim believed that wealth is not good for Jews. However, the Chidushei Harim asserted that he disagreed and felt that when one is wealthy, he can serve Hashem with joy.
He added that the Chozeh of Lublin zy’a, who had grown up in wealth, provided an abundance of wealth to Jewish people in order for them to become great through the wealth. The Magid of Kozhnitz zy’a, on the other hand, was raised in poverty and brought poverty to Jewish people because he felt that would help them become great. His own father, R’ Shabsi, worked as a bookbinder and was very poor. Because he extended himself to honor Shabbos and feel joy on that day, he merited a holy son like the Magid.
The Chozeh once told the Magid, ‘It says that Moshe did not take a donkey (chamor) from any of them and did not harm any of them. This means that he didn’t take away the ‘chumrios’, worldly possessions, from anyone. In this way, he didn’t harm them. This is because poverty is extremely harmful for people and negatively affects their ruchnius.’