Appeal to Money

The fallacy of appeal to money uses the error of supposing that, if something costs a great deal of money, then it must be better, or supposing that if someone has a great deal of money, then they're a better person in some way unrelated to having a great deal of money. Similarly it's a mistake to suppose that if something is cheap it must be of inferior quality, or to suppose that if someone is poor financially then they're poor at something unrelated to having money.

Example:

He's rich, so he should be the president of our Parents and Teachers Organization.