'Elite communities' are the areas where the wealthy, and even 'superrich', live, socialize and raise their children as future economic and financial elites; they are the places where a few lead socially and economically privileged lives. Earlier studies have concentrated on the inner dynamics of these settings, focusing on the way residents are constructed and socialized as elites through their social, communicative and aesthetic abilities that are perceived as exemplary in contemporary neoliberal society. In this paper, we broaden the perspective, by exploring how these areas contribute to polarization, that is, how they generate distinctions based on money, morals and manners that are peculiar to neoliberalism's idealization of 'entrepreneurship', 'self-management', 'leadership' and the pursuit of an 'active lifestyle'. Our data come from two major ethnographic studies: one conducted between 2010 and 2015 of Sweden's wealthiest community, Djursholm, that is populated by the country's business and financial elites; the other conducted between 2016 and 2019 of three of Australia's most prestigious and economically privileged suburbs, Toorak (Melbourne), Mosman (Sydney) and Cottesloe (Perth).