This multi-case study sought to construct meaning using a cultural capital lens in relation to educational leadership preparation programs building the capacities of social justice leaders in demographically changing schools. Data revealed principals’ perceptions about preparation, expectations and general beliefs and assumptions related to leadership for social justice emphasizing contradictions between principals’ equity-oriented rhetoric and their underlying beliefs and assumptions affecting their diverse school populations. The implications for research and practice include opportunities that principals and principal preparation programs have to implement to keep leadership for social justice at the forefront of the charge to equitably educate all children.