I've always felt Lex Luthor is intensely threatened by any status or distinction he can’t buy, hence the antipathy to Superman's powers and Bruce Wayne's status as old money. Money is Author's superpower, and anything he can’t obtain or control with it is his kryptonite. Unlike Superman, he takes a proactive view of his kryptonite. It shouldn’t exist, and he’ll do all he can to eradicate it wherever he finds it.