Research on elites often utilizes network analysis to describe and analyse the interrelationships among elites and how their prominence varies by demographic characteristics. We examine the diversity of global elites through an analysis of the board members of large corporations, think tanks, international organizations, and transnational policy planning groups. Using new data, we provide the first descriptive picture of global elite networks in terms of race and gender. We also test the ‘core–periphery’ hypothesis, which predicts that as non‐whites and women achieve elite positions they will be marginalized to the periphery of elite networks, while the core remains significantly more white and male. We find consistent evidence for the core–periphery hypothesis across a range of empirical tests, from simple k‐coring to various core–periphery models. Most groups decline in their representation in the core, and this includes white women. White men are the only group that increases in representation in the core compared to the periphery.