Final answer:
The statement is false because privilege extends beyond financial wealth to include factors such as race, education, and health, which are interrelated forms of social advantage.
Step-by-step explanation:
The statement "Privilege is directly related to wealth and only wealth" is false. Privilege in society can manifest in various forms, not just through wealth. Factors such as racial identity, gender, education, and health also contribute to one's social privileges. For instance, the concept of white privilege pertains to the benefits people receive simply by being part of the dominant racial group. Moreover, in the United States, whites tend on average to have more wealth, health, education, and other social resources than persons of color, signifying a correlation of privileges across different aspects of life beyond just monetary wealth. Such correlations suggest that inequalities are mutually related and multi-dimensional.