In a broader sense of the word "champion" I personally think money helps most definitely. With money you can keep your bikes running, make races every weekend or few weekends to further your competition skills, and afford to travel and attend big amateur nationals. With that said, all the money in the world can't instill work ethic or natural talent in anyone.
A prime example that comes to mind, and if he reads these boards still hope you don't mind me dropping a story, of a kid named TJ Yackey about 7 years ago.
We were at the Red Bud Regionals for Lorettas in 250C. He was parked out in the A lot, some utility truck pulling an open trailer, sleeping beside it in sleeping bags at night. His bike was clapped out, I remember vividly the clutch lever was real bent when he lined up next to me. To top if off, if I remember correctly he was running 4th or so with a qualifying spot to Lorettas before something happened. Kid had lots of speed to work with for sure.
On the flip side, I've seen the exact opposite too like we all have and it always makes me laugh. The C class gooners with brand new bikes and gear every year, and they just go nowhere with racing. If they love it, more power to 'em I suppose.