"It has risen quickly: As recently as spring 2021, Spiro charged $1,595 an hour. Two years later, it was $2,180 an hour. Those are the rates that Brock Pierce, the child actor-turned-crypto investor, said he was charged for Spiro's advice by his law firm Quinn Emanuel, which is trying to stick Pierce with a $1 million legal bill that he says isn't his responsibility."
"Representation by Alex Spiro, a lawyer whose clients have included Elon Musk and Kim Kardashian, isn't cheap. Earlier this year, his hourly rate was $3,000. Four years before, it was under $1,600. Hourly billing has been big law firms' bread and butter for decades, despite rising pressure to use alternatives. The lawyer Alex Spiro can often be seen alongside the world's top executives, athletes, and entertainers."
Alex Spiro represents high-profile executives, athletes, and entertainers and charges a premium hourly rate. His hourly fee reached $3,000 this year, up from $1,595 in spring 2021 and $2,180 two years later. The rate increases average more than 16% annually for Spiro, outpacing recent inflation and exceeding the 9–10% annual billing growth seen at the largest U.S. law firms over the past three years. Quinn Emanuel billed clients at the higher rates in at least one disputed case. A very small group of partners at major firms now command comparable $3,000 hourly rates. Large corporate law firms continue to derive most revenue from billable hours charged by senior partners.
Read at Business Insider
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