I think a lot of things come together to create problems. But yes, in its way, money equals power equals money equals status equals power equals money...for some people.
(OK, I'm going to generalize, so please...I DO know there are millions and billions who DO suffer every day.)
Basically, I think some humans' survival instinct, combined with greed, messes things up. In general, humanity has developed technologies and societies that promote a better life than our stone-age ancestors had.
In the western world, most of us don't merely "survive" hand-to-mouth by hunting and gathering. (In less advanced parts of the world, hunger, disease and poverty are still huge issues for many, many people.) Things such as natural resources (and/or access to them, available technologies, politics, culture and belief systems can help or impede humanity.
But humans still have an ancient, stone-age "survival instinct". I think for many people, it's just part of the survival instinct, to want more, bigger and better than others -- as proof that they're good enough for the mating pool. Tragically, when combined with real greed, having more, bigger and better all too often comes at the expense of the survival, well-being, and/or comfort of others who are not as well off.
Not sure I've made sense...Hmmm. Oh, well.