>>6982503El is a Northwest Semitic word meaning "god" or "deity", or referring (as a proper name) to any one of multiple major ancient Near Eastern deities
The word Elite in old french 'elit' which comes from the older 'elu', elu means "A person who has been chosen (by God)". The EL'ite are people who were chosen by EL.
"ite" is a suffix used to form nouns denoting followers or adherents of a specified person, example: Adamsite, Campbellite, Jacobite, laborite, Mansonite, Reaganite, Thatcherite.
So literally an EL-ite means a follower of EL or one who was chosen by EL.