Traditional theories have focused on the intentions of lower‐class individuals to climb on the social ladder, yet they have paid relatively little attention to the motivations of upper‐class individuals to ascend even higher. Addressing this issue, Studies 1 and 2 provided cross‐national evidence that higher social class is associated with a greater desire for wealth and status. Moreover, by manipulating perceived social class, Studies 3 and 5 experimentally confirmed that compared to people in the lower‐class group, those in the upper‐class group express a stronger desire for wealth and status. Furthermore, in line with self‐categorization theory predictions, Studies 3–5 showed that upper‐class individuals tend to see and use wealth and status as important attributes in defining and categorizing self, and this tendency explains the effect of social class on desire for wealth and status. Together, our findings demonstrate a “having more—wanting more” relationship, and its consequences are further discussed.