The most common and most likely answer to this crossword clue is the 7 letter word STARDOM
I've seen this crossword clue in Financial Times
S
T
A
R
D
O
M
More clues leading to the result STARDOM
- Prominence for which Mr Toad's postured
- Mad sort desperate for fame
- Rising doctor mildly curses fame
- Mr Toad’s bogus celebrity status
- A famous state ministry informants set up
- Celebrity starts to stupidly tell Doctor Doctor gag, essentially, backwards
- Elevated status of smart drunk seen outside party
- Like Weller and Geldof’s band, given up fame
- Being sluggish getting into part repeatedly reduced great actor’s status
- Stone on rocky road ending in money and fame
Buddy explains!

The straight part
We know that "Elevated status" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case elevated status = stardom.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does STARDOM mean?
STARDOM noun- The status or position of a performer acknowledged to be a star; fame; celebrity.