Kirkland tops $10B as Wachtell breaks $12M partner pay

By AI, Created 10:00 AM UTC, May 20, 2026, /AGP/ – The 2026 Am Law 100 rankings show another record year for BigLaw, led by Kirkland & Ellis becoming the first firm to pass $10 billion in revenue and Wachtell, Lipton, Rosen & Katz becoming the first to exceed $12 million in average profits per equity partner. The results point to widening gains at the top of the legal market and strong demand for premium legal work.

Why it matters: - The 2026 Am Law 100 shows the largest U.S. law firms continuing to outpace the broader legal market. - Elite firms are pulling further ahead on both revenue and partner pay. - The numbers signal sustained demand for complex corporate, litigation and regulatory work.

What happened: - The 2026 Am Law 100 rankings, which measure 2025 financial performance, put total gross revenue for the 100 firms at $178.95 billion. - Aggregate revenue rose 13.0% from the prior year. - Average profits per equity partner increased 14.0% to $3.59 million. - Kirkland & Ellis became the first law firm to top $10 billion in annual revenue, posting $10.556 billion. - Kirkland & Ellis revenue rose 19.93% year over year. - Wachtell, Lipton, Rosen & Katz posted $12.152 million in average profits per equity partner, the first Am Law 100 firm to cross the $12 million mark.

The details: - Kirkland & Ellis also recorded profits per equity partner of about $11.12 million. - Wachtell’s results reflect a business model centered on high-stakes, bet-the-company matters. - Most firms in the Am Law 100 posted double-digit gains in both revenue and profitability. - The report says firms across corporate, litigation and regulatory practices benefited from strong demand for sophisticated legal services. - LawFuel said a $6 million equity-partner payout would have been considered extraordinary a decade ago, but that level no longer ranks in the top 10. - The report offers firm-by-firm breakdowns and rankings in the full version. - Read the full story.

Between the lines: - The top of BigLaw is becoming more concentrated, with the biggest firms compounding their lead. - The leap in partner pay suggests pricing power remains strongest at firms that land the most lucrative matters. - LawFuel Publisher John Bowie said the industry’s best run in years shows no signs of slowing, with leading firms capturing premium work in a shifting legal market.

What’s next: - Firms will use these results to benchmark compensation, hiring and growth strategies for the year ahead. - The rankings are likely to intensify competition for top legal talent and marquee clients. - LawFuel says its full report includes commentary on what the numbers mean for strategy, recruitment and the future of the legal profession.