In 2021, Kirkland & Ellis was the highest grossing law firm in the world. The Chicago-based multinational generated a gross revenue of just over six billion U.S. dollars in the corresponding year. Latham & Watkins were the second highest grossing law firm in the same year, with a revenue that totaled approximately 5.5 billion U.S. dollars.
A notable alumnus
As well as generating the highest global revenue of all law firms in 2021, Kirkland & Ellis also had the highest number of lawyers in the United States in the same year. Many of these attorneys who worked for the firm follow the career paths of federal officials or judges, with Brett Kavanaugh being a prime example. Kavanaugh had the swing vote in the Supreme Court regarding Roe vs. Wade, and this has since made legal abortions difficult to obtain in many U.S. states. Pro-life or pro-choice has been a divisive issue in the United States and has still very much split public opinion over the last decade.
Legal services in the United States
With many of the highest grossing law firms being based in the United States, the revenue created within the country has been substantial. In 2022, it was predicted that the industry revenue of legal services would be almost 350 billion U.S. dollars. Furthermore, lawyers earned a higher annual wage than any other legal occupation in 2021, making it an attractive job prospect in an already prosperous market.
Leading law firms worldwide in 2021, by gross revenue
(in billion U.S. dollars)
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Law.com. (April 27, 2022). Leading law firms worldwide in 2021, by gross revenue (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 08, 2024, from https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/
Law.com. "Leading law firms worldwide in 2021, by gross revenue (in billion U.S. dollars)." Chart. April 27, 2022. Statista. Accessed December 08, 2024. https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/
Law.com. (2022). Leading law firms worldwide in 2021, by gross revenue (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 08, 2024. https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/
Law.com. "Leading Law Firms Worldwide in 2021, by Gross Revenue (in Billion U.S. Dollars)." Statista, Statista Inc., 27 Apr 2022, https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/
Law.com, Leading law firms worldwide in 2021, by gross revenue (in billion U.S. dollars) Statista, https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/ (last visited December 08, 2024)
Leading law firms worldwide in 2021, by gross revenue (in billion U.S. dollars) [Graph], Law.com, April 27, 2022. [Online]. Available: https://www.statista.com/statistics/319127/leading-law-firms-revenue-worldwide/