having advantages because of your wealth, social position etc [≠ underprivileged]:
Students from a privileged background have an advantage at university.
Only the privileged few can afford private education.
people who are privileged
having a special advantage or a chance to do something that most people cannot do:
Kylie feels fortunate to be in such a privileged position because of her successful TV career.
be privileged to do something
I was privileged to lead the team.
privileged information is private and is not allowed to be made public by law