Why is it hard for a rich man to enter the Kingdom of God?

Why is it hard for a rich man to enter the Kingdom of God?

“Then Jesus said to his disciples, “Truly I tell you, it is hard for someone who is rich to enter the kingdom of heaven. Again I tell you, it is easier for a camel to go through the eye of a needle than for someone who is rich to enter the kingdom of God.”
Matthew 19:23-24

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