Trump's Return Sparks A K Street Gold Rush

Donald Trump’s return to Washington lit a new fire under an already-hot lobbying market, but no firms experienced a bigger boon in the first quarter than those with close ties to the president, according to a POLITICO analysis of disclosure filings.

Lobbying revenues were up nearly across the board during the first three months of 2025 for many of K Street’s top shops, as Trump steamed into office and immediately began pumping out executive orders, targeting perceived enemies and moving to upend global trade and geopolitical alignments before sometimes retreating abruptly.

The huge payday for K Street also comes as congressional Republicans roll back key Biden-era regulations, dig in on regulating the cryptocurrency and AI industries,attempt to extend Trump’s prized 2017 tax breaks and enact the president’s domestic agenda. And that’s not to mention the upheaval and confusion caused by Elon Musk’s slashing of federal programs and the federal workforce.

Akin Gump Strauss Hauer & Feld, whose $16.4 million in lobbying revenues were second only to Brownstein Hyatt Farber Schreck’s $16.8 million, saw its strongest quarter ever, according to Brian Pomper, the co-head of Akin’s lobbying practice. Akin’s lobbying revenues were up more than 12 percent compared to the fourth quarter of 2024 and almost 19 percent compared to the same period a year ago. Their new lobbying registrations last quarter were about triple the average number of new registrations per quarter in 2024.

The biggest story in the numbers, though, is the handful of firms that are cashing in on their ties to the president and his inner circle.

Among these Trump-connected firms, Continental Strategy saw the biggest boost to its business, relative to previous quarters. Continental brought in more than $3.6 million in lobbying revenues in the first quarter of the year. That’s up almost tenfold from last quarter, when the firm disclosed earning $373,000. During the same period in 2024, Continental reported just $128,000 in lobbying revenues. Carlos Trujillo, a former Trump campaign adviser, founded Continental in 2021, and the firm has also added former Marco Rubio staffer Alberto Martinez and recently promoted Katie Wiles, the daughter of White House chief of staff Susie Wiles.

“Competition breeds competition,” said Nadeam Elshami, the co-head of Brownstein’s lobbying practice, when asked about the flood of new business into Trump-linked firms. “We welcome that,” Elshami added, noting that his firm also has robust legal and international offerings.

The longtime head of another top-20 lobbying practice mused that “the industry has developed a new type of firm” that is eating into “the ‘normal’ transition” that follows turnover in Washington — an apparent reference to the scale of the surge in business for those hyper-connected Trump firms.

As POLITICO reported yesterday, Ballard Partners saw its lobbying revenues skyrocket to $14 million in the first quarter of the year, compared to $4.3 million a year ago. The increase was enough to vault Ballard Partners, which is led by top Trump fundraiser Brian Ballard, from 16th in the revenue rankings for all of 2024 to fourth in the revenue rankings for the first quarter.

Also making it into the top 20 this year are Miller Strategies and Mercury Public Affairs, which employs former Trump adviser Bryan Lanza and previously employed Susie Wiles. Miller pulled in $7.2 million in lobbying fees last quarter — an 80 percent increase compared to the fourth quarter and a 152 percent increase compared to the first quarter of 2024. And Mercury saw its lobbying revenues more than double, to $5.2 million, since the end of 2024.

Lobbying revenues at Michael Best Strategies — which counts Reince Priebus in its leadership ranks — increased by almost 70 percent quarter-over-quarter, to $2.1 million, while several other firms with contingents of well-connected GOP lobbyists saw boosts as well. The all-Republican firm CGCN Group reported $3.8 million in lobbying income last quarter, up 47 percent from the fourth quarter of 2024. S-3 Group saw its lobbying revenues increase by 45 percent, to $5.6 million. Squire Patton Boggs, Vogel Group and BGR Group reported increases of nearly a quarter compared to the final three months of 2024.