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The Multi-Million Dollar Career: Deconstructing Liz Cheney’s Husband Philip Perry’s Net Worth And Power

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The financial standing of Philip Perry, the husband of former Congresswoman Liz Cheney, is a topic of intense curiosity, primarily due to his low-profile career in contrast to his wife’s high-visibility political life. As of December 19, 2025, a common estimate for Perry’s individual net worth is around $3.5 million; however, this figure is considered highly conservative and likely outdated when considering his nearly two-decade tenure as a litigation partner at one of the world's most prestigious and profitable law firms, Latham & Watkins LLP. A deeper analysis into his career as a Washington D.C. power lawyer and former high-ranking government official reveals a much more substantial financial picture, especially when combined with the estimated $25 million to $47 million net worth of the Cheney family.

The true value of Philip Perry’s professional life is not just in a static net worth number, but in the immense earning power and influence derived from his specialized career path. His journey from a political appointee in the George W. Bush administration to a high-stakes litigation expert places him squarely in the realm of Washington's elite, commanding a salary that far surpasses most public estimates and contributing significantly to the couple’s combined family wealth.

Philip Perry: Biography and High-Profile Career Milestones

Philip Jonathan Perry is an American attorney and a prominent figure in Washington D.C. legal and political circles. Born on October 16, 1964, Perry has built a distinguished career that bridges the gap between high-level government service and lucrative private practice. He is the son-in-law of former Vice President Dick Cheney, a relationship that has often placed him near the center of American political power.

  • Full Name: Philip Jonathan Perry
  • Date of Birth: October 16, 1964
  • Age (as of 2025): 61
  • Spouse: Elizabeth "Liz" Lynne Cheney (m. 1993)
  • Children: 5 (three daughters, two sons)
  • Alma Mater: Colorado College (B.A.), Cornell Law School (J.D.)
  • Primary Occupation: Litigation Partner at Latham & Watkins LLP
  • Political Affiliation: Republican
  • Residences: Wilson, Wyoming and McLean, Virginia (Washington D.C. area)

Key Government and Private Sector Roles

Perry’s career trajectory is marked by significant appointments within the executive branch, demonstrating his deep experience in federal law and policy. His transition to a top-tier private firm like Latham & Watkins LLP leveraged this government experience into an extremely profitable private practice.

Government Service (George W. Bush Administration)

Perry held several key roles during the early 2000s, which solidified his standing as a Washington insider and legal expert in government operations:

  • General Counsel of the Office of Management and Budget (OMB): In this role, he was responsible for advising the OMB Director on legal matters related to the federal budget, regulations, and management policies.
  • Acting Associate Attorney General, U.S. Department of Justice (DOJ): From January 2001 to January 2002, Perry served in one of the highest-ranking positions at the Department of Justice, overseeing several key divisions, including the Civil Division and the Environment and Natural Resources Division.

Private Sector Law Practice

Since leaving government service, Perry has been a partner at Latham & Watkins LLP, one of the world's most elite and financially successful "Big Law" firms. He has been a litigation partner since 2007, specializing in complex, high-stakes litigation, particularly for corporate clients facing federal investigations or significant regulatory challenges.

The True Financial Power: Why the $3.5 Million Net Worth Estimate is Misleading

The widely cited $3.5 million net worth for Philip Perry is a figure that fails to account for the immense earning potential of a long-term partner at a firm like Latham & Watkins. This is where a deep dive into the legal industry’s financial structure provides a more accurate picture of his wealth.

Profits Per Partner (PPP) at Latham & Watkins

Latham & Watkins is consistently ranked among the top global law firms by revenue. The most telling metric for a partner's wealth is the firm’s Profits Per Partner (PPP). For a firm of this caliber, the PPP is in the multi-million dollar range:

  • Reports indicate that the average PPP for Latham & Watkins can top $4.3 million annually.
  • In some years, the firm has topped the list with a PPP figure reaching as high as $7.3 million.

As a litigation partner since 2007—a tenure of nearly two decades—Perry has been earning at this elite level for a substantial period. Even a conservative estimate of his cumulative earnings from partnership profits alone would place his individual net worth significantly higher than $3.5 million. It is more realistic to assume his individual net worth, accrued from his high-stakes legal career and investments, is in the high seven to low eight figures.

The Combined Cheney-Perry Family Wealth and Influence

To fully understand Philip Perry’s financial standing, one must consider his wealth in the context of the combined family fortune with Liz Cheney. The couple's total net worth is a blend of Perry’s lucrative private legal career and Cheney’s political and literary earnings, as well as the inherited wealth and influence of the extended Cheney family.

Liz Cheney’s Earning Power

Liz Cheney’s own net worth is estimated to be between $20 million and $47 million, with credible reports often averaging around $25 million to $30 million. This wealth is derived from several sources:

  • Congressional Salary: She earned $174,000 annually as a member of Congress.
  • Investments and Assets: Financial disclosures reveal significant assets, including real estate in Wyoming and Virginia, and various investment holdings.
  • Post-Congressional Career: Following her high-profile role on the January 6th Committee and her departure from Congress, Cheney has become a highly sought-after speaker and author, commanding significant fees for her appearances and book deals, which will substantially increase her net worth in the coming years.

A Power Couple’s Financial Synergy

The combined financial power of Philip Perry and Liz Cheney is a classic example of a Washington D.C. power couple. Perry’s consistent, high-earning salary from corporate law provides a stable, multi-million-dollar financial base, while Cheney’s public career generates high-value assets and significant capital through political and media ventures. The couple’s total family wealth, therefore, is comfortably in the tens of millions of dollars.

Furthermore, their legal and political influence creates a powerful network. Perry’s expertise in high-stakes litigation and regulatory law is directly informed by his time in the Office of Management and Budget and the Department of Justice, making him an invaluable asset to his firm’s corporate clientele. This unique blend of legal acumen, political connectivity, and high earning potential is the real story behind Philip Perry’s net worth—a story that moves far beyond the simple, low-ball estimates often found online.

Frequently Asked Questions (FAQs) About Philip Perry’s Wealth

What is Philip Perry’s main source of income?

Philip Perry’s primary source of income is his role as a litigation partner at Latham & Watkins LLP. As a partner at a "Big Law" firm, his compensation is based on a share of the firm's profits, which can amount to several million dollars annually, far exceeding the salaries of most corporate executives.

How does Philip Perry’s net worth compare to Liz Cheney’s?

While conservative estimates place Philip Perry’s individual net worth around $3.5 million, a more realistic figure based on his law firm's Profits Per Partner (PPP) would be significantly higher. Liz Cheney’s net worth is estimated to be between $20 million and $47 million, largely due to her political career, book deals, and inherited family wealth. The couple’s combined financial profile places their joint net worth in the tens of millions of dollars.

What is Latham & Watkins LLP’s role in Philip Perry’s net worth?

Latham & Watkins is one of the world's most profitable law firms, with Profits Per Partner (PPP) reaching into the multi-million dollar range. Perry has been a partner since 2007, meaning his consistent, high-level earnings from this firm are the single largest contributor to his overall net worth and financial security.

The Multi-Million Dollar Career: Deconstructing Liz Cheney’s Husband Philip Perry’s Net Worth and Power
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liz cheney husband net worth

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