Kirkland & Ellis Stops Revealing Its Profits. Will Other Global Law Firms Follow?

The world's highest-grossing law firm, Kirkland & Ellis, has announced it will stop voluntarily disclosing its financial performance, raising questions about transparency, partner remuneration and the future of global law firm rankings.

The US legal giant confirmed it would no longer provide revenue and profit figures to The American Lawyer or other legal publications, marking a significant departure from decades of industry reporting.

The decision follows a record-breaking 2025, when Kirkland generated US$10.6 billion in revenue, becoming the first law firm to surpass the US$10 billion threshold.

Average profit per equity partner also climbed 20% to approximately US$11.1 million.

In explaining its decision, Kirkland argued that financial rankings place excessive emphasis on quantitative measures rather than the quality of legal services and outcomes delivered to clients.

However, the move has sparked debate about whether greater financial secrecy serves the interests of the profession.

Law firm revenue and profitability rankings have long influenced partner recruitment, lateral movements and perceptions of a firm's financial strength. For lawyers considering career opportunities, these figures can provide valuable insight into a firm's performance, although average partner profits do not necessarily reflect individual remuneration.

Kirkland is not alone. Freshfields stopped voluntarily reporting its global financial results in 2023, while firms including Wachtell Lipton and Slaughter and May have historically maintained greater financial privacy.

The development comes as leading international firms face increasing scrutiny over legal fees, partner compensation and substantial investments in artificial intelligence.

Whether Kirkland's decision encourages other global firms to follow remains to be seen.

LawUno Insight

Should the world's most profitable law firms be expected to disclose how much money they make?

Financial transparency has traditionally helped lawyers, clients and recruiters compare firms beyond reputation alone. Yet profitability does not always tell the full story of a firm's culture, client service or long-term sustainability.

If more firms withdraw from voluntary reporting, the legal profession may need to reconsider how it measures success.

For lawyers deciding where to build their careers, the question is simple: if firms stop sharing their numbers, what should replace them?