We introduce a global equivariant refinement of algebraic K‐theory; here ‘global equivariant’ refers to simultaneous and compatible actions of all finite groups. Our construction turns a specific kind of categorical input data into a global Ω$\Omega$‐spectrum that keeps track of genuine G$G$‐equivariant infinite loop spaces, for all finite groups G$G$. The resulting global algebraic K‐theory spectrum is a rigid way of packaging the representation K‐theory, or ‘Swan K‐theory’ into one highly structured object.