ESV - 26 He considered the reproach of Christ greater wealth than the treasures of Egypt, for he was looking to the reward.
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The verse in question is part of the description of Moses as one of the "heroes of faith" mentioned in the eleventh chapter of Hebrews. Although Moses, of course, lived before the time of Christ's physical life on earth, and although he had been raised as the adopted son of Pharaoh's daughter (even though he was a member of the Hebrew/Jewish tribe of Levi by birth)(as described in Exodus 2), he chose to give up the wealth and comfort that he could have possessed as part of Egyptian royalty, and to identify himself instead with his heritage as a Jew (which he would have known about as a result of having been raised (at the request of Pharaoh's daughter) by his own Jewish birth family, from whom he would have learned of God's promises to Abraham with regard to giving Abraham's descendants the land of Israel, as well as of the subsequent history of how the Jews came to be slaves in Egypt). When Moses had grown to manhood as a prince of Egypt, he even went so far as to kill an Egyptian whom he saw mistreating a Hebrew slave, and so was forced to flee Egypt when Pharaoh sought to have Moses killed for the Egyptian's death. Moses thus considered that it was better to endure the penalty (or "reproach") that he suffered by identifying with the Jewish people than to be Egyptian royalty, in the hope of seeing the fulfillment of God's promise to Abraham (which God used Moses to help bring about by leading the Jewish people out of slavery in Egypt, and toward the Promised Land). The writer of Hebrews is making the point that, in so doing, Moses was a prototype or prophetic forerunner of Christ, who voluntarily became a human being, giving up the majesty and splendor that He possessed as part of the Godhead, for the "reproach" (that is, the general rejection) that He endured during His earthly life (to the point of His own crucifixion and death), because He was looking forward to the reward that He would receive in the form of His resurrection from the dead, and in the way in which that atoning death and resurrection would serve as God's means of offering eternal life to anyone who would put their faith in it.
This is a great question and one I pondered recently too and researched. To put it simply "...reproach of Christ.." in this scripture means that Moses considered more valuable the abuse and oppression that he and the people of God suffered (in anticipation of the Anointed One..the coming King who would be reproached or dishonored) more valuable than the riches/treasures of Egypt. More valuable because he knew with God he would receive a much greater reward (eternal life) than the temporary riches of the world. It is a powerful message to Believers today as well: We should not forfeit eternal rewards (life everlasting, a prepared city of God, a new glorified, imperishable body, no darkness, no tears, no illness, no crime, no death, etc.) for temporary benefits, and we should be willing to honor God and suffer for His sake when "the world of unbelievers" is discrediting and dishonoring Him. Our reward is worth the suffering!
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