What is the meaning of privileged?

verb

• Bestow a privilege upon.
  • synonyms: privilege, favor, favour

adjective

• Blessed with privileges.
  • usage: "the privileged few"
• Not subject to usual rules or penalties.
  • usage: "a privileged statement"
• Confined to an exclusive group.
  • usage: "privy to inner knowledge"; "inside information"; "privileged information"
  • synonyms: inside, inner