Greenbacks for Giuliani
How one Houston law firm made Rudy rich
Rudy Giuliani is now a very rich man — thanks in part to the Houston law firm that bears his name. A story in this week's issue of New York magazine on the former New York mayor's future political plans concludes he likely won't run for governor because he would lose too much income. It says that Giuliani spends about half of his time in the New York offices of Bracewell & Giuliani, the Houston-based firm that was previously known as Bracewell & Patterson before Giuliani joined the firm in 2005.
The magazine notes that when Giulani ran for president last year — an ill-fated campaign in which he spent $60 million and didn't win a single delegate — he disclosed that his base pay at the law firm was $1.2 million, plus 7.5 percent of the firm's New York revenues in 2006.
"It's going to be more profitable this year than it was last year. And last year was our best year ever at the firm," Giuliani said.
Bracewell managing partner Dan Connolly told the magazine that the firm brought in $300 million last year.
Makes us wish we had gone to law school.