The running joke on K Street is: Who hasn’t hired
President Donald Trump’s hard-charging second term sent shocks through the federal sector and across industries and countries, disrupting the hierarchy of the capital’s lobbying corridor.
Trump 2.0 put a new shop at the top of K Street: Ballard Partners. The Florida-based firm has already generated more than $30 million in revenue this year with nearly 300 clients, among them Harvard and elite colleges, public broadcasters, foreign governments, and corporations responding to new tariffs. This has made it the go-to influence shop for many, but has also raised questions about whether the firm can handle its explosive growth and blue-chip client base.
“When Republicans came back into power in DC, it was like a spigot turned on,” Ballard said in an exclusive roundtable with Bloomberg Government on Wednesday.
Ballard Partners hauled in the most revenue of any shop during the second quarter as clients sought advice on dealmaking with Trump and other officials with access and influence in short supply.
Mixed Results
The results for clients, so far, appear mixed.
The Public Broadcasting Service tapped Ballard in February as Trump and congressional Republicans sought to slash its federal money. They cut the funding anyway. PBS did not respond to a request for comment.
Ballard Partners has had more success for some of its law firm clients, such as Simpson Thacher & Bartlett and Kirkland & Ellis, including in negotiations with the White House.
For others, time will tell.
“Harvard is a difficult case,” Ballard said. “When Harvard reached out to us, I thought, ‘Wow, this is really cool, Harvard. I could never get into Harvard.’”
The elite school, under attack from the administration over reports of antisemitism, faces “unique” pressures, he said, as it seeks to restore federal funding.
“I’m hopeful things will resolve there in a favorable way,” Ballard said.
Envy and Awe
Rising to the top of K Street comes with envy and awe from others in the business.
“What Ballard accomplished is truly impressive,” said
Ballard, once a Florida lobbyist for Trump’s business who opened a Washington outpost during the president’s first term, isn’t the only one in his firm with Trump ties.
Hunter Morgen, who worked on trade and immigration matters in the first Trump administration, is a partner. Ballard’s shop is bipartisan and includes former Democratic aides, such as Michael LaRosa, who served in the Biden administration.
The firm has a “booming” presence in California, Ballard said. It’s made strategic partnerships or alliances with international firms and with another new entrant with Trump ties: Checkmate Government Relations, a North Carolina shop that opened a Washington presence this year; that firm declined comment.
Ballard acknowledged he gets little facetime with the president.
Even during the Biden years, Ballard said his firm built up a network with other outfits beyond Washington.
The question now is whether Ballard can sustain the growth. He said the firm has been hiring more lobbyists and expanding its office space in Washington.
“The ascendance of Trump has turbo-charged the business, and the challenge will be: Can they build a platform that survives, and my guess is yes, sure they can,” said Democratic lobbyist Steve Elmendorf, who founded his own firm that after mergers is now part of Avoq.
“You take advantage of the moment you’re in, but you also build out services and staff that survive, no matter who is in power,” the Democrat added. “You wouldn’t have that many people and that many offices if you weren’t trying to build something that could survive any particular politician.”
The top-grossing federal lobbying firm for years has been Brownstein Hyatt Farber Schreck. It’s still No. 1 this year, but in the second quarter, Ballard Partners brought in more lobbying revenue.
“This is healthy competition, no question about that,” said Nadeam Elshami, a co-leader of Brownstein’s practice.
Private Equity Offers, Trump Ties
Ballard said he gets near monthly offers from private equity players looking to invest in the shop he owns fully. For now, he’s not interested, he said.
“Never say never, but I think the best group of people that could take over the firm ownership would be our partners,” he said.
The onslaught of new business has raised questions about how effective one firm can be.
“If everybody hires Brian Ballard then not everyone can actually get the benefit of Brian Ballard, but you can’t fault him for taking everybody’s check,” said Cristina Antelo, founder of Ferox Strategies.
Ballard’s ties to the administration go deeper than Trump.
Attorney General
Like Trump, Ballard said he’s gained from the first-term lessons.
“Eight years ago, I had no clue,” he said. “I told clients, ‘I don’t know how to do this. We have to learn.’ And we did learn.”
He said the firm does more to vet potential clients.
“I think we stumbled into some shady guys the first term,” he said. “The best way to be a successful lobbyist is to have really good clients,” he said. “People want to meet with Amazon, they want to meet with Harvard.”
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