verb (used with object), pri·va·tized, pri·va·tiz·ing.
1. Formal Definition:
to transfer from public or government control or ownership to private enterprise: a campaign promise to privatize some of the public lands.
2. To make exclusive or make your own; to delimit or appropriate: That guy just privatized that toilet paper.
3. Can also be used with sexual connotation (use at your discretion)
"Hey Buddy, let's take that beer and privatize that shit." "Privatize that shit"
"I just privatized that iPad brah"
To be used with discretion: "Privatize that Ho"