A sociologist might discuss factors in the home like household wealth, childhood exposure to crime or violence or disease, quality of education, parents' education level, and a whole bunch of other things and their effect on a child's future wealth and educational outcome and so on. (and yeah, something like IQ is a little more taboo, but you can always look at that) That's sociologists, but even among normal people that looks like a reasonable list of things that would constitute privileges, at least as a first approximation.
Oh yeah, I don't know where you live, but in a country like the one I live in, where money by design tends to trump just about everything in importance and effects the ability to obtain or maintain everything else, guess which factor tends to constitute the most important privilege?
None of this makes me want to wave my arms around and cry out "oh my, this privilege thing is so complicated we do not even have a vocabulary to talk about it!" but YMMV.