I would have thought it is the other way around. You don't need a privileged background to turn a $100k into a unicorn. This is a question of different factors. But a privileged background will make it a lot more likely you can get to to a $100k startup in the first place. Because you can take more risks, fail more, bootstrap longer, rely on friends and family etc.

Almost every successful entrepreneur have multiple failed startups in the baggage. But you are already privileged if you are able to fail multiple times and still bounce back.