Using a large database of metallic glasses (N=174), an equation was developed to improve estimating shear and bulk moduli of metallic glasses containing multiple constituents. This equation was applied to several different subsets of metallic glasses; those containing any element, those containing only metallic elements, those containing at least one nonmetal, and those containing at least one constituent with no more than 5at% of the whole glass. Comparisons to other calculation methods and measured elastic constants for these systems are provided. The present equation provided an improved confidence in the estimations of bulk and shear moduli for all of the cases examined in comparison to previous equations, while the biggest improvement occurred for metallic glasses containing nonmetal constituents.