King Midas was greedy and vain but he had once helped the god Dionysus and the grateful god granted him a wish: he could have whatever he wanted.

The god Dionysus came to Midas and said:
“Oh Midas, because you helped me, I grant you one wish.”
Midas, who was always greedy, wanted gold and replied to the king: “I have one wish: whatever I touch turns to gold."
Dionysus granted this wish.Midas was very happy and lept thinking only about his immense wealth. He was so excited that he kissed his daughter. But immediately (her) warm, soft body turned into a statue. Midas, crushed with grief, begged that Dionysus take away this terrible wish

Later, Midas offended the god Apollo who found a way to punish him which would have a serious effect on his vanity.

Then Midas offended the god Apollo. Apollo wanted to punish Midas and dreamt up a cunning plan.While midas was sleeping, the god sprinkled water on his heads. Midas, woken from sleep, saw his reflection in the mirror and he was horrified. For on his head he had two huge asse's ears.From that day, Midas always wore a cap because he wanted to hide his ears. The royal barber knew the secret and Midas cut out his tongue in case he said anything.