The recent discovery of the all‐boron fullerenes or borospherenes, D2d B40−/0, paves the way for borospherene chemistry. Here we report a density functional theory study on the viability of metalloborospherenes: endohedral M@B40 (M=Ca, Sr) and exohedral M&B40 (M=Be, Mg). Extensive global structural searches indicate that Ca@B40 (1, C2v, 1A1) and Sr@B40 (3, D2d, 1A1) possess almost perfect endohedral borospherene structures with a metal atom at the center, while Be&B40 (5, Cs, 1A′) and Mg&B40 (7, Cs, 1A′) favor exohedral borospherene geometries with a η7‐M atom face‐capping a heptagon on the waist. Metalloborospherenes provide indirect evidence for the robustness of the borospherene structural motif. The metalloborospherenes are characterized as charge‐transfer complexes (M2+B402−), where an alkaline earth metal atom donates two electrons to the B40 cage. The high stability of endohedral Ca@B40 (1) and Sr@B40 (3) is due to the match in size between the host cage and the dopant. Bonding analyses indicate that all 122 valence electrons in the systems are delocalized as σ or π bonds, being distributed evenly on the cage surface, akin to the D2d B40 borospherene.