Yeah, it exists. White people are the most blind to it, so I think it's understandably frustrating for people of color to suffer through the arrogance.
For example, a white man who is successful in real estate will think he was successful because of hard work (which may be true) but then he'll just assume that a black male could follow in his shoes and have the same outcome, but that isn't true. The best collateral for a loan in the housing market is white skin. It's a fact that in the US there is inequality in the housing market, and most white people take that inequality for granted. But we know that people of color are targeted for sub prime loans, that predominately non white neighborhoods automatically have lower housing value, and that people of color moving into white neighborhoods face discrimination. White flight is about white people who can afford it uprooting themselves purposely and segregating themselves based on race. It makes me outraged, and I know that if my family were being treated that way, I would be furious and feel that I was being mariginalized by my own country.
Come to think of it, my own family does benefit from white privilege. My dad owns a locksmith shop, and he is successful at selling high security residential locks to rich people. There are many locksmiths around town, and I can guarantee that when it comes to that profession, the consumer drives the prejudices. It's like in that movie Crash, which depicted a locksmith who is discriminated against. I found that aspect of that movie to be all too close to home, sadly.