Paul, Weiss Would Like You To Stop Looking At Their Financials

Another Biglaw giant has decided the scoreboard is someone else’s problem. Paul, Weiss told The American Lawyer last week that it will no longer provide financial data for the Am Law 200, the annual ranking of the industry’s revenue and profits. The Financial Times reported the decision, and Paul, Weiss’s 2025 numbers are the last ones the firm plans to hand over.

That makes Paul, Weiss the second major firm in a month to go dark, after Kirkland & Ellis decided revenue rankings are gauche in early October. Wachtell Lipton and Slaughter and May were already out, so this is quickly becoming less a quirk and more a trend.

And like Kirkland, Paul, Weiss isn’t hiding a bad year. Last year the firm brought in $3.3 billion in revenue, up 24% from the year before, and disclosed $8.6 million in profits per equity partner. Those are numbers you frame, not numbers you bury.

Paul, Weiss delivered its news to The American Lawyer on Thursday, October 29, one day after Weil Gotshal’s leadership told partners that the 95-year-old firm would wind down. Weil brought in $2.1 billion last year and, per the Wall Street Journal, carried “no debt and few liabilities.” None of it mattered once its rainmakers started leaving in packs. Paul, Weiss had a front-row seat for that, too. In September, it picked up Weil’s private equity co-head Christopher Machera and a team of five lawyers, one of the departures that kicked off the final wave of exits. Timing on the back-end is also interesting, as Paul, Weiss — plus Kirkland and the rest of the Biglaw firms that capitulated to Donald Trump — are likely facing increased scrutiny over those deals in the wake of the blue tsunami. Guess they don’t want anyone poking into any of their business.

The American Lawyer, for its part, isn’t conceding. “Clients and talent consistently tell us they want transparency and clarity,” said Gina Passarella, chief content officer at AmLaw’s parent company. She added that the magazine would continue to “provide and enhance our wealth of insightful data and deep human intelligence” about the legal industry as it faces a period of growing upheaval. In practice, that means estimates. Going dark doesn’t make a firm’s numbers disappear, it just means someone else does the math, which, as Dentons learned during its long fight with the magazine after it stopped disclosing in 2014, is its own kind of headache.

Biglaw spent years bragging about these figures when they were going up, and there’s a certain chill in the air when the firms with some of the best numbers in the business suddenly decide nobody needs to see them anymore.

Earlier: After Topping $10 Billion, Kirkland Decides Revenue Rankings Are Gauche
Iron Curtain Descends On Biglaw Financials
After 95 Years, Weil Gotshal Is Winding Down
What Killed Weil? Rainmakers Who Left In Packs
Weil Practice Head Tells His Associates To Start Looking For Work Elsewhere
First The Litigation Partners Left Paul, Weiss. Now Associates Are Being Pushed Out.
A Bit Of Cultural Whiplash At Paul, Weiss After Firm’s Abrupt Leadership Pivot
The 2026 Am Law 100 Is Out, And Surprise: The Rich Law Firms Got Richer

Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter @Kathryn1 or Bluesky @Kathryn1

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