Privilege is a multi dimensional phenomenon. Every person has some sort of privilege compared to other folks. It's not white vs black.
Blacks have an advantage for playing in the NBA, or Football. They are most likely to succeed as a rapper and many other things.
Likewise a white upper middle class kid with a stable family probably has an advantage in some sense of having parents that prioritize education and career mindset. Are there more white folks in middle class? Yes, but so what? that has hundreds of years in the making.
Bill Gates' kids have an advantage over countless people, but so do Denzel Washington's kids. If you are poor black person with nearly nothing living in Detroid, you have an advantage over a black kid growing up in a village in Somalia.
You can't regulate advantage. The only thing you can regulate is to have a framework of laws that gives the same opportunity to people.