A.T. Robertson Commentary Revelation 3:17

"Because thou sayest, I am rich, and have gotten riches, and have need of nothing; and knowest not that thou art the wretched one and miserable and poor and blind and naked:" — Revelation 3:17 (ASV)

I am rich (οτ πλουσιος ειμ). Recitative οτ like quotation marks before direct quotation. Old adjective from πλουτος, riches, wealth. Laodicea was a wealthy city and the church "carried the pride of wealth into its spiritual life" (Swete).

Have gotten riches (πεπλουτηκα). Perfect active indicative of πλουτεω, old verb from πλουτος, used here of imagined spiritual riches which the church did not possess, just the opposite of church in Smyrna (poor in wealth, rich in grace). This church was in a rich city and was rich in pride and conceit, but poor in grace and ignorant of its spiritual poverty (ουκ οιδας, knowest not).

The wretched one (ο ταλαιπωρος). Old adjective from τλαω, to endure, and πωρος, a callus, afflicted, in N.T. only here and Ro 7:24. Note the one article in the predicate with all these five adjectives unifying the picture of sharp emphasis on "thou" (συ), "thou that boastest."

Miserable (ελεεινος). Pitiable as in 1 Corinthians 15:19.

Poor (πτωχος). See 2:9 for spiritual poverty. Perhaps some local example of self-complacency is in mind.

Blind (τυφλος). Spiritual blindness as often (Matthew 23:17), and note "eye-salve" in verse 18.

Naked (γυμνος). "The figure completes the picture of actual poverty" (Beckwith). See 15,16.