Follow the Money: The 8,187% Return on Lobbying Investment

The Most Profitable Investment in America

Forget the stock market. Forget real estate. Forget crypto. The highest return on investment in America might be lobbying.

We cross-referenced companies that appear in both federal lobbying disclosures and the federal procurement database (USASpending.gov). The correlation between lobbying spending and government contract awards is striking — and the implied returns are astronomical.

A caveat upfront: correlation is not causation. Companies that receive large government contracts have many reasons to lobby — to protect existing contracts, shape procurement rules, and influence policy. The contracts aren't "purchased" through lobbying. But the numbers do illustrate why lobbying is such a rational investment for government contractors.

The ROI Scoreboard

McKesson: The $11.8 Billion Return

McKesson Corporation, the pharmaceutical distribution giant based in California, tops our ROI rankings. The company spent $1.45 million on lobbying — focused on "MMM" (Medicare/Medicaid) issues — and received $11.87 billion in federal contracts. That's a return of $8,187 for every dollar spent lobbying.

McKesson is the largest pharmaceutical distributor in the US, and its federal contracts are primarily for drug distribution to the VA, military hospitals, and other government healthcare facilities. The company has lobbied consistently since 2018 with 29 filings across 7 years.

The Defense Industrial Complex

Defense contractors dominate the ROI list — and for good reason. The Pentagon is the world's largest customer, and the procurement process is heavily influenced by congressional appropriations, which are in turn shaped by lobbying.

• RTX Corporation (Raytheon) — $1.67M lobbied, $7.28B in contracts (4,360x). Lobbies on defense, aviation, trade, aerospace, and technology issues.
• Huntington Ingalls — $1.69M lobbied, $4.37B in contracts (2,586x). America's largest military shipbuilder. Lobbies on defense and budget.
• Lockheed Martin — $1.15M lobbied, $2.54B in contracts (2,208x). The world's largest defense contractor.
• Boeing — $1.34M lobbied, $2.35B in contracts (1,756x). Defense, aviation, and space contracts.
• BAE Systems — $1.14M lobbied, $2.16B in contracts (1,899x). UK-headquartered but a major US defense contractor.

The SpaceX Factor

SpaceX appears on the list with $2.55 million in lobbying and $3 billion in federal contracts — a 1,176x return. Notably, SpaceX's lobbying spend is the highest of any company on our list, reflecting its aggressive pursuit of NASA, military, and intelligence community launch contracts.

The irony is rich: Elon Musk runs DOGE, which aims to cut government spending, while his other company is one of the biggest beneficiaries of government contracts — and lobbies to get more.

Booz Allen Hamilton: The Consulting Giant

The second-highest ROI belongs to Booz Allen Hamilton, the management consulting firm that is essentially a shadow government. With $1.15 million in lobbying and $6.56 billion in contracts (5,708x return), Booz Allen is the epitome of the government-contractor-lobbying nexus.

Booz Allen lobbies on defense, budget, government operations, veterans affairs, intelligence, and homeland security — essentially every area where the government outsources work to contractors. The company has filed 23 lobbying reports since 2018.

What the Numbers Really Mean

We want to be clear: these numbers don't prove that lobbying "buys" contracts. Government procurement follows (theoretically) competitive bidding processes, and these companies win contracts because they provide goods and services the government needs.

But lobbying shapes the rules of procurement. It influences which programs get funded, which requirements get written into contracts, and which agencies get budget increases. A company that lobbies on defense appropriations isn't buying a specific contract — it's ensuring the category of contracts it competes for continues to exist and grow.

And the numbers make the incentive crystal clear: when $1 of lobbying correlates with thousands of dollars in contracts, the rational business decision is always to keep lobbying.

The Self-Reinforcing Cycle

This creates a self-reinforcing cycle: companies win contracts → use contract revenue to fund lobbying → lobbying helps shape future procurements → companies win more contracts. The barrier to entry for competitors without lobbying operations grows higher every year.

For taxpayers, the question isn't whether this is legal (it is) but whether it's efficient. Does the government get the best value when contractors who lobby get preferential treatment? Or does the lobbying-procurement nexus create an insiders' market that costs taxpayers more?