Virtual collaboration surged in numbers during the COVID-19 pandemic when team members found themselves working from home. It has been argued that shared leadership is especially beneficial in global virtual teams (GVT) where work is organized across time zones in highly challenging multilingual and multicultural settings. When leadership is shared in teams, members’ expertise and skills can be drawn on more effectively and improve team performance.  In this study, we examine whether there is a link between shared leadership and positive team outcomes in GVTs. We differentiate between sharing leadership tasks and sharing leadership support among the team members and examine whether these are related to team satisfaction, performance and output. Using a sample of 55 global virtual teams with members from 28 countries, we find that the task component of shared leadership is positively related to team satisfaction, and the support component of shared leadership is positively related to perceived team performance as well as team satisfaction. Additionally, importantly, the extent to which a team shares leadership support is related to externally evaluated team outcomes, suggesting a need to take a closer look at shared leadership from a support perspective. Implications for theory and practice are addressed.