Having been covered a good deal of the wealth across my life, I disagree. (Although it is possible of course that I was just happier when I was younger—poverty being beside the point.)
that doesnt mean that wealth is the only factor of happiness, nor is it the strongest. but it is correlated.
I wonder though if there is a sweet spot—a goldilocks degree of wealth. Too much wealth becomes a burden itself.
Is there a linear relationship between wealth and happy? Someone 10× as wealthy as another person—10× happier?
I suspect not.
the happiest part of my life was when I had nothing materially (but no debt, just basically at zero, making enough to live paycheck to paycheck)