A new series of seven studies point to yes:
According to [psychologist Paul Piff], unethical behavior in the study was driven both by greed, which makes people less empathic, and the nature of wealth in a highly stratified society. It insulates people from the consequences of their actions, reduces their need for social connections and fuels feelings of entitlement, all of which become self-reinforcing cultural norms.
[E]lites excel at hypocrisy. Elites can better distinguish ideals which are mainly given give lip service, from ideals that really matter personally. Elites can better see which laws and social norms are actually enforced with strong penalties, and those that can be violated with impunity. This ability comes in part from implicit cultural learning, and also from just raw IQ. Homo hypocritus is alive and well – having big enough brains to manage hypocrisy well is still a core human capacity, crucial for success in the modern world.
Previous Dish on money's corrupting elements here.