The following article contains spoilers for Billions.
For six years now, Billions has accomplished the goal of producing one of the most accurate takes ever on Wall Street’s superrich hedge funds, all without compromising one bit on its massive entertainment value in TV. Billions is all about going big — it’s a show with no true heroes and very few villains, but most notably, it’s the realization of Gordon Gekko’s motto: that greed is good.
At least, that’s the way it used to be during its first five seasons, when its creators decided to pit U.S. Attorney Chuck Rhoades (Paul Giamatti) against billionaire Bobby Axelrod (Damian Lewis) in a never-ending battle that saw both men push each to their limits without any consideration over the ethics of their actions or their consequences. Nowadays, although Billions retains all its flashiness, penchant for spectacle,and characteristic quickfire dialogue, it’s also brought on a new element: a clear-cut villain that used to be celebrated as the series’ one true maker, capitalism.
An Axe In Prince’s Clothing
Billions’ constant cat-and-mouse dynamics make it impossible for any member of its vast cast characters to die a hero. Instead, the perpetual survival game wagered by Chuck and Axe practically forces everyone to become a villain, or at least that would be the case if such a thing existed in these circles. Axe was like a WWE bad guy: so undeniably and effortlessly cool despite his market manipulation antics, that he was hard not to love. On the other hand, supposed do-gooder Chuck has non-existent ethical boundaries, as his political ambition oftentimes comes off more tasteless than most of Axe’s crimes.
The series strived to communicate how fickle morality is in such a high-stakes game, and it certainly succeeded at that until Lewis stepped away from Billions after his wife’s passing in 2021. How does one replace such a charismatic character? One simply does not fill the Axe-shaped void without placing someone objectively worse in his place. Who could better for the job than the guy who actually beat him and dares to profess he’s on a moral high ground above everyone else in Billions, one Michael Thomas Aquinas Prince.
Prince is the poster boy billionaire. He's supposed to be Axe without all the wrongdoing and dubious ethics, but there’s a reason the public often distrusts such high net worth individuals, and Corey Stoll’s (Ant-Man) character wears a mask that renders him more unlikable than his predecessor. His introduction comes as a rare omen for Chuck, who sets his sights on Prince when he deprives him of the prey he’s been chasing as an elegant way for Billions to give Lewis a proper sendoff.
For all his faults, Axe was a self-made man. He supported his favorite pizza joint; his t-shirt and hoodie looks rendered him somewhat down to earth; and by committing his crimes in broad daylight he was true to himself at all times. Meanwhile, Prince carries himself like someone who’s not only better than most billionaires, but also like he’s better than the average Joe would be if they were to become mega-rich and blessed with enough political capital to bend public officials into biding their will. Like the saying goes, there is nothing more bitter than the taste of your own medicine — in this case, Chuck’s.
A Man Of The People
Chuck has always been empowered by the very public authority he wields. He's a man on a mission: to rid the Southern District of New York of the financial crimes that plague Wall Street. Unlike Axe, he comes from a rich family, yet in the name of his self-perceived sense of public duty (and his hunger for more power) there are practically no lines he isn't willing to cross, public officers he isn't willing nudge or bully, all in the name of using his position to carry out a personal vendetta against Axe Capital.
Maybe this is why he's so disgusted by Prince's sanctimonious image, why he sees his false sense of morality as an even bigger threat to society, and — ultimately — why in season six, Rhoades seems more driven to do his actual job. Fret not, Chuck is still willing to push the boundaries of what can be considered prosecutable offenses, only that now he does it in the name of taking on the billionaire class (to which his own father belongs) while bearing the flag of social issues like income inequality or simply sticking it to the rich man.
The DA is right about something: Prince is worse than Axe, because while the latter saw himself as a dangerous roaring tiger of capitalism, Prince takes pride in pretending to be different. He refuses to admit he does the things he does to secure more power and influence. Mike Prince is willing to use his own daughters as pawns in his business dealings, sees his relationship with his wife as part of his bid to bring the Olympics to New York. The "Burn Rate" episode exposes the fact that he sees everyone as mere numbers, and now that he has ambitions to run for office too, he must be stopped.
America loves debating over billionaires like him these days, yet Chuck’s unrelenting pursuit of Prince comes with a lesson. Trying to take down the player instead of the game or merely adhering to its rules is bound to end in disappointment. This is what happens to Taylor (Asia Kate Dillon), Billions’ non-binary savant, and what will probably befall its latest untarnished asset, Phillip.
Chuck is a changed man, divorce does that to a person, but through his eyes so has Billions. It bears saying he’s still no hero, but in his downfall, he has at least enacted the principles that adorn his inspirational speeches and finally lived up to the notion men like him are necessary to look past conventional morality and do what needs to be done.
Billions is currently available on Showtime and Paramount Plus.