One of the highest-paying jobs in the United Kingdom is that of a lawyer. Still, some lawyers have acquired fortunes that the rest of us can only hope to achieve. To that end, this article will examine the careers of some of the world’s wealthiest practising attorneys. At the time of this writing, Richard Scruggs has acquired more wealth as a result of his legal practice than any other attorney in history. After earning his law degree from the University of Mississippi in 1976, he initially gained widespread notoriety for advocating on behalf of sick Pascagoula shipyard workers against the asbestos business. He represented Mississippi in a case against cigarette firms in the 1990s, seeking reimbursement for medical expenses directly attributable to tobacco use. After 2005’s Hurricane Katrina, he fought on behalf of Katrina victims who had been wronged by insurance companies.
His total earnings in the courtroom exceed $1 billion, and his current wealth is estimated at $1.7 billion. He was convicted of bribery in 2008 and spent the subsequent six years behind bars in the United States Federal Penitentiary System. As he was later disbarred from practising law, he is effectively retired.
William Lerach
William “Bill” Lerach is an expert in securities class action litigation and a graduate of the University of Pittsburgh School of Law. Investors who lost money on publicly listed securities they purchased from a company because the company withheld material information from them are suing the company in court. The securities class action case he filed against Enron and won resulted in the biggest settlement in US history, for $7.2 billion. After being found guilty of obstruction of justice in 2007, Lerach was disbarred by the California State Bar and ordered to jail for two years. His fortune is estimated to be close to $900 million.
Wichai Thongtang
Wichai Thongtang, an esteemed Thai lawyer, received his law degree from Thammasat University in the year 1970. He spent his whole legal career representing powerful Thai businesses. His most well-known case was his 2001 victory in defending then-Prime Minister of Thailand Thaksin Shinawatra against charges of wealth concealment. Thongtang’s career as a corporate lawyer aroused his interest in business, and he soon began making investments in various enterprises. His commercial ability earned him the position of chief executive officer (CEO) of a number of Thai corporations, including healthcare providers E For L Aim and Bangkok Dusit. Thongtang is more prosperous than Scruggs due to his reported worth of $2 billion. His investing success, rather than his law practice, is what ultimately contributed to his fortune.
Joe Jamail
Joe Jamail, the “King of Torts,” passed away in 2015, yet he still merits a tribute. His reported $1.7 billion in wealth made him the wealthiest active attorney at the time of his death. In 1985, he received $335 million representing Pennzoil in a lawsuit against Texaco. This was his most well-known case. The most successful attorneys have been able to earn enormous fortunes. However, like Thongtang, attorneys may often expand their wealth by investing in businesses in addition to practising law.