Several texts can be cross read to interpret Paul’s meaning here. First, let’s address the “chief cornerstone.” There is only one kind of building that has only one cornerstone: a pyramid. The top stone itself is a perfect pyramid, and all other stones have to be formed, chiseled and cut in order to align with that stone and fit into the building. Thus, Jesus is our perfect example, and we allow the Lord to give us experiences to join with him.

The Apostle Peter said this in Acts 4:8-12: “Rulers and elders of the people! If we are being called to account today for an act of kindness shown to a cripple and are asked how he was healed, then know this, you and all the people of Israel: It is by the name of Jesus Christ of Nazareth, whom you crucified but whom God raised from the dead, that this man stands before you healed. He is ‘the stone you builders rejected, which has become the capstone.’ Salvation is found in no one else, for there is no other name under heaven given to men by which we must be saved.” 

Peter’s reference quoted from Psalms 118:22-23: “The stone which the builders refused is become the headstone of the corner. This is the LORD’s doing; it is marvelous in our eyes.” 

Jesus had quoted this same prophecy to the Jewish leaders before he died in Matthew 21:42-44 (NIV): “Have you never read in the Scriptures: ‘The stone the builders rejected has become the capstone; the Lord has done this, and it is marvelous in our eyes’? Therefore I tell you that the kingdom of God will be taken away from you and given to a people who will produce its fruit. He who falls on this stone will be broken to pieces, but he on whom it falls will be crushed.”

The Jewish leaders tried to build salvation without Jesus, relying instead on keeping the Law, but their rejection of him only helped to fulfill his sacrificial mission. By his faithfulness unto death, Jesus became the chief cornerstone of God’s spiritual temple.

What about the apostles? They are the foundations of the symbolic New Jerusalem described in Revelation 21:14, “And the wall of the city had twelve foundations, and in them the names of the twelve apostles of the Lamb.” It is upon their writings and the examples of their lives that we, as Christians, build our lives and characters.

Where do Jesus’ followers fit into this? Because of the faithfulness of Jesus, those called of God to follow Jesus are offered the highest honor ever given to humanity if they are faithful. This honor is given by God to Jesus’ true disciples: 1 Peter 2:4–7: “And coming to him as to a living stone which has been rejected by men, but is choice and precious in the sight of God, you also, as living stones, are being built up as a spiritual house for a holy priesthood, to offer up spiritual sacrifices acceptable to God through Jesus Christ. For this is contained in Scripture: behold, I lay in Zion a choice stone, a precious corner stone, and he who believes in him will not be disappointed. This precious value then, is for you who believe; but for those who disbelieve, the stone which the builders rejected (Jesus), this became the very corner stone.” 

Jesus is this precious, valuable, honored cornerstone. The object of a cornerstone is for the building to be built in its image. It sets the lines for the building. Those called out to follow Christ, begotten by God’s spirit, who are faithful unto death as living stones are being built as a spiritual house based on this cornerstone. We are being included with this precious honor given to Jesus!

And so, we have several beautiful pictures of the true church of God and the guidance needed to participate with our Father and our Lord, Jesus Christ, in the fulfillment of their work for the blessing of all of mankind.

Additional Resources:
PDF Booklet: The Great Pyramid – Ancient Wonder, Modern Mystery