Built on the exclusive funding of 1,000 large transnational corporations, the World Economic Forum is a not-for-profit Swiss foundation, aiming to shape the direction of globalization. Its events are characterized by low degrees of formality and transparency. Research on what this organization does is scarce. This article suggests the term discretionary governance to capture the precarious, yet existing, social order that the organization shapes. By discretionary governance, we mean a set of discreet practices based on the organization’s judgement in ways that escape established democratic controls. Drawing on ethnographic data the paper demonstrates how selection, secrecy, and status form key components of this tenuous ordering. Selection processes and secrecy contribute to status elevation of the individuals and organizations chosen to participate. Upon them and the organization itself is bestowed a symbolic capital that is practical and possibly profitable in the world of global governance.