Status is nothing but the "bigger guns diplomacy."
Historically, the highest status person has always been the warlord.
Today, the highest status person is arguably also the biggest warlord in the world: the US president.
Wealth on the other hand is made through trade. You can buy a certain amount of status (guns) with that and climb your way up.
But it is always about guns, humans are monkeys after all. And if you have the guns, you can just take wealth from the trades-folk.