Human leadership and followership take many forms, shaped by the social, economic, political, and cultural contexts of our groups and societies. Underlying this complexity, we argue, are key elements of human social psychology regarding social comparison and the resolution of coordination and collective action problems. The Multi-Capital Leadership (MCL) theory posits that leader emergence and effectiveness depend on perceptions of individuals’ abilities to provide benefits or impose costs in solving challenges of group living, through the deployment of different forms of capital: material, social, somatic (e.g., physical formidability, height, immune functionality), and neural (e.g., knowledge, intelligence, personality, supernatural abilities). We integrate this framework with a review of leadership across human societies, including in non-state and non-industrial contexts, and with novel comparative analyses of ethnographic data. This synthesis highlights how context-specific demands for coordination and collective action, and the accuracy of social comparison, shape the structure and dynamics of leadership and followership across cultures.