We are rich in God's grace. Paul is telling us that we are spiritual billionaires. Grace is a gift from God. It is the gift of God. It is received from Jesus Christ.
Grace is received without merit or achievement.
A mother found under her plate one morning a bill made out by her small son, Bradley. We could not buy God's grace or earn God's grace. It cost us nothing. All we had to do was receive it. It is a gift from God.