Deuteronomy 17:17 (Go to this verse :: Verse pop-up)
After his prodigious wisdom, Solomon is best known for his colossal—seemingly astronomical—personal wealth. While riches are not evil in themselves, God admonishes the Israelite king not to "greatly multiply silver and gold" for himself (Deuteronomy 17:17). Beyond the greed factor, God gave this warning, not because He wants His rulers to be poor, but because of the effect amassing wealth has on the general populace. When a king gathers all of a nation's wealth to himself, the citizenry experiences acute financial oppression.
I Kings 10:14-25, 27 describes Solomon's nearly unbelievable wealth in detail. He was so wealthy that he "surpassed all the kings of the earth in riches" (verse 23). He generated an income of 666 talents of gold per year (verse 14), and "silver [was] as common in Jerusalem as stones, and . . . cedars as abundant as the sycamores which are in the lowland" (verse 27). He even charged a hefty, yearly set fee for anyone who desired to hear his wisdom (verse 25)! Money just seemed to pour into his coffers.
Obviously, much of this wealth came to him from trade and as gifts like that from the Queen of Sheba (verses 1-2, 10). However, he took advantage of his people to garner a great deal of wealth in the form of high taxes and using resident aliens as forced labor on public works projects (II Chronicles 2:17-18; 8:7-10). After he died, the people sent emissaries to his son Rehoboam to request a lightening of their work and tax burdens, but he rebuffed them, causing Israel's rebellion under Jeroboam (I Kings 12:1-20; II Chronicles 10). From the biblical perspective, amassing wealth like this is a terrible abuse of power.
Martin G. Collins
The Enduring Results of Compromise