List of Billions episodes

Billions is an American drama television series created by Brian Koppelman, David Levien, and Andrew Ross Sorkin, and starring Paul Giamatti and Damian Lewis, that premiered on Showtime on January 17, 2016.

On May 8, 2019, the series was renewed for a fifth season by Showtime,^[1] which premiered on May 3, 2020. Due to the COVID-19 pandemic, production was postponed and only 7 of the 12 episodes aired in 2020.^[2] Season 5 resumed on September 5, 2021.^[3] On October 1, 2020, Showtime renewed the series for a sixth season,^[4] which premiered on January 23, 2022.^[5] On February 15, 2022, Showtime renewed the series for a seventh and final season, which premiered on August 13, 2023.^[6]

During the course of the series, 84 episodes of Billions aired over seven seasons, between January 17, 2016, and October 29, 2023.

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[2]

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Season	Episodes		Originally released
Season	Episodes		First released	Last released
1	12		January 17, 2016 (2016-01-17)	April 10, 2016 (2016-04-10)
2	12		February 19, 2017 (2017-02-19)	May 7, 2017 (2017-05-07)
3	12		March 25, 2018 (2018-03-25)	June 10, 2018 (2018-06-10)
4	12		March 17, 2019 (2019-03-17)	June 9, 2019 (2019-06-09)
5	12	7	May 3, 2020 (2020-05-03)	June 14, 2020 (2020-06-14)
5	12	5	September 5, 2021 (2021-09-05)	October 3, 2021 (2021-10-03)
6	12		January 23, 2022 (2022-01-23)	April 10, 2022 (2022-04-10)
7	12		August 13, 2023 (2023-08-13)	October 29, 2023 (2023-10-29)

No. overall	No. in season	Title	Directed by	Written by	Original release date	U.S. viewers (millions)
1	1	"Pilot"	Neil Burger	Brian Koppelman & David Levien & Andrew Ross Sorkin	January 17, 2016 (2016-01-17)	0.904^[7]
Bobby "Axe" Axelrod is a charismatic 9/11 survivor who heads up Axe Capital ("Axe Cap"), a hedge fund based in Connecticut. Ari Spyros of the SEC asks Chuck Rhoades, the U.S. Attorney for the Southern District of New York, to investigate him. Because of his philanthropy Axe has public support and is a bit of a folk hero, making Rhoades cautious to take Axe on. In addition, Chuck's wife, Wendy, works as a motivational coach/psychiatrist at Axe Cap, and the prospect of Chuck investigating her boss causes tension between them. Chuck brings up the idea of getting a new job to Wendy, who rebuffs the notion, and the two argue. Chuck confesses that if he brings up a lawsuit against Bobby Axelrod, that there may be a conflict of interest given her employment as Axe Capital's personal psychiatrist. Chuck shares his concerns regarding Axelrod with Bryan Connerty, the Chief Assistant U.S. Attorney. Kate Sacker, an AUSA, informs both Chuck and Bryan that the "Norton Place", a home valued at $83 million dollars is up for sale, and Bobby Axelrod has his sights on it. Chuck decides to bait Axe into buying the house^[8] to turn public favor against him. Skip Wolkowski, a friend of Chuck’s father, is being sent to jail by Chuck for insider trading. Chuck Sr. arranges a meeting between Skip and his son, to ask for a more lenient punishment, but Chuck refuses to relent. Meanwhile, Axe realizes that an old friend, Dan Margolis, is cooperating with the FBI. Axe and his fixer, Hall, move to frame another trader, Steven Birch, for Axe's wrongdoing. Axe and Chuck finally meet face-to-face at an investment conference. Axe buys the house, making the front page of the New York Post. Chuck learns that Skip chose to commit suicide rather than go to jail. In front of his staff, Chuck doubles-down on his decision and says that it's important they convict white collar criminals with the same severity they would a petty drug dealer. Bryan shows Chuck the news, confirming Bobby Axelrod's purchase of the Norton Place. Hall calls Axe and informs him that Chuck has opened a case file on him and that it could eventually lead to prosecution.
2	2	"Naming Rights"	Neil Burger	Brian Koppelman & David Levien	January 24, 2016 (2016-01-24)	0.950^[9]
The Financial Journal story on Steven Birch is released. Rhoades' office publicly begins investigating Steven Birch's practices. Bobby, aware that he is likely next, fires one of his top traders, Victor Mateo, to make an example of him. Wendy visits Victor, who is furious, and advises him to stand down, pointing out the possible repercussions of trying to fight Axe. Axe meets up with Sean Ayles, the curator of the Ellis Eads Hall. He offers a $100 million donation in exchange of having the hall named after him. Axe mentions the Eads family's financial troubles and asks Sean to convince them to accept his offer of $25 million for the naming rights. While the youngest member of the Eads family extends his gratitude, Axe rebuffs him and focuses on a different family member, Chad Eads. Axe recounts how they met earlier in life at a country club called The Spoon where Axe used to be a caddy during middle school. Axe shares that he worked there during the summers and used to make only $16 during each round of golf. One day, Chad's grandfather Ellis Eads, had missed a shot while Axe was his caddy. Embarrassed, he blamed Axe’s advice and got him fired. As retribution, today Axe offers the family the $25 million, minus the $16 million, leaving the family members with only $9 million to split among themselves. Having no other option, the Eads family silently accept Bobby’s offer, and leave. Hall blackmails Tara Mohr, one of the employees of the US Attorney's office, into being his informant. FBI Agent Terri McCue informs Chuck of proof regarding Steven Birch having committed insider trading, while Tara eavesdrops. Chuck decides to settle with Birch rather than aim for a conviction, so they can return their focus on Axelrod. In a meeting between the team and Steven Birch, Chuck and Bryan offer a plea deal while Tara continues to eavesdrop and inform Hall. The meeting ends with Birch accepting the plea deal.
3	3	"YumTime"	Scott Hornbacher	Willie Reale	January 31, 2016 (2016-01-31)	1.282^[10]
June Raichlein, the widow who criticised Lara & Axe during their memorial fund meeting, has just completed a literary work titled "9-12: The Day After." It's a memoir about her life following the death of her husband in the aftermath of the World Trade Center attack. Lara places a call to acquire a copy of June’s book before it is released and finds out that it’s extremely negative towards Bobby. Orrin Bach, Axe's attorney, is uncertain that he can bring a defamation suit as the bulk of what is written about Axe is true. Lara decides to take matters into her own hands. June’s funds quickly dry up, and both her gym and country club membership are cancelled. After her son loses his spot at Stanford, despite strong grades and being a legacy candidate, she realises that Lara is coming after her. Regaining her composure, she meets with Lara at the Axe residence with a "revised" version of her memoir, with the offending parts cut. Lara has June sign a pre-prepared non-disclosure agreement. Bobby acquires a significant percent of the YumTime Bakery and has a sit down with two senior members of the YumTime board, Evelyn Benson and Sherm. The two make it clear that as YumTime belongs to the Bailey Family, that they cannot unseat Hutch Bailey the Third as CEO. Perturbed by Bobby’s approach, Evelyn reaches out to Chuck Sr., her lover and the man who granted her the board member seat at YumTime. Chuck Sr. comes to the conclusion that Axe must be making this play as payback for his son opening a case file on Axe Capital. Axe invites the Chairman, Jerome Purkheiser to the pizzeria and discusses YumTime's future with him. At the next board meeting, Hutch accuses Axe of being a carpetbagger. Jerome puts forth a motion to remove Hutch as CEO, much to the shock of Evelyn and Hutch, and the motion passes. Immediately after, Jerome pushes another motion to dismiss Evelyn so that Bobby Axelrod may assume her seat on the board. The motion passes and Evelyn storms off, same as Hutch. Terri receives a tip regarding a case concerning in the Eastern District a broker by the name of Pete Decker, one of the men connected to Bobby Axelrod. Chuck orders Lonnie Watley to give up a high-profile case he’d been working on to the Eastern District, in exchange for the case regarding Decker. Much to Chuck's distaste, this brings Spyros back to the Southern District. Bryan and Tara lead the arrest on Decker and bring him to Chuck and Spyros. Chuck makes it clear to Decker that his only option is to flip on Axelrod if he wants to be a free man, but Decker refuses. Chuck blackmails him into compliance using his parents' retirement fund, which Decker had expanded using insider information. Later, Chuck Sr. tells Chuck about Axelrod's recent play with YumTime. Chuck says that Bobby’s actions in the regard were legal, and he refuses to act in vengeance in the name of family. However, he later confesses to Wendy that he is upset with how Axe attacked his father.
4	4	"Short Squeeze"	James Foley	Young Il Kim	February 7, 2016 (2016-02-07)	0.851^[11]
Axe wakes up in the middle of the night to come to the rescue of Mick Danzig, who the police pickup for walking around outside, visibly drunk carrying an open bottle and an automatic weapon. At the same time, while dropping Chuck off at work, Wendy notices Pete Decker heading into Chuck's office. She asks Chuck about this, but he refuses to comment. Inside, Decker says that the tip for the Pepsum Pharmaceuticals trade came from "Dollar Bill" Stearn, one of Axe Capital's employees and top performers. Kate catches Tara Mohr texting Hall. Chuck is upset over Tara's betrayal but decides to use it to his advantage, and instructs Tara to arrange an in person meeting with Hall. But Hall, sensing something wrong, never shows up. Axe arranges to take some of his high school buddies (Eric, Ike, and Freddie) with him to Quebec to enjoy an impromptu Metallica concert taking place in Quebec. Chuck Sr. learns that Bobby Axelrod is exposed on a short position with respect to a company called Cross-Co. and decides to go after him. Soon after, Wags gets an alert that the companies are recalling shares to initiate a "buyback". Wags notifies Axe, who recognizes that the timing of it all means a "short-squeeze" and that someone must have discovered their position. Determined to still make this work, Axe makes a deal with Ken Malverne, a rival hedge fund manager. He then has a sudden realization and notifies Hall that it is likely Chuck Sr. putting the squeeze on him, who notifies Spyros. Spyros pulls Chuck and hands him information confirming that his father is guilty of trading on insider information. Chuck confronts his father about the insider trading and forces him to sell at a loss. Axe meets up with his old friend Constantine, who appears to be down on his luck. Afterwards, Freddie approaches Bobby and confesses that he had been eavesdropping all day, and had taken a short position on Cross-Co. He is now losing money, and asks Bobby for help. Upset, Axe protects Freddie, but severs ties with him afterwards. Axe, still tender from Freddie's betrayal, meets up with Wags and tells him to sell everything slowly. Wags questions if Axe is out of the game, but Axe just quietly leaves the office.
5	5	"The Good Life"	Neil LaBute	Heidi Schreck	February 14, 2016 (2016-02-14)	1.010^[12]
With Decker's information providing a lead on "Dollar Bill" Stearn, Chuck and his team decide to focus on him. Bryan and Kate find a link between Stearn and Clayton Grunwald, Pepsum Pharmaceuticals' researcher for insider information regarding an experimental product called "Vaccarazine.” The team head to Iowa and interrogate Clayton. Down in Iowa, Chuck meets up with Clayton at his farm. Clayton confesses to meeting Bill. He tells Chuck and his team that his daughter, Christina, needed surgeries and Stearn offered to pay, and so he told Stearn everything he wanted to know about Pepsum Pharmaceuticals. Chuck says he will do everything to help Clayton, and Clayton signs a document confirming that he shared insider information regarding the product with Stearn. Kate learns Bryan is having some money problems when she overhears him on a call about putting a down payment on a place to live. She offers him a loan and to be his guarantor, but Bryan says it'd be against the rules and could cause trouble down the road. Kate says they'll get a waiver and so long as Bryan doesn't default, there shouldn't be any issues. Kate casually brings up his relationship with Terri. Bryan admits that he and Terri are having an affair. Later, while discussing the loan offer, Kate tells Bryan about her dream of becoming POTUS. Following Bobby’s orders from the last episode, Wags confirms with the senior traders that the company is only focused on liquidating at the moment, starting with telecommunications. The traders are dismayed by this news, and as the episode progresses, they fall into disarray. Bryan suggests Axe might be quitting for real, but Chuck laughs it off. Wendy visits Axe’s residence and tells Bobby to talk to his investors himself. Bobby meets Raul Gomez, one of his oldest investors, and promises to find a suitable fund to take over their investment. Chuck is upset upon being told about Wendy’s visit to Axe’s house. Bryan notices his reaction, and questions if Chuck should recuse himself from the case due to the clear “conflict of interest.” Mike Dimonda writes an article on Chuck’s conflict of interest regarding the case, using Lonnie Watley as a source. Bobby receives a news alert that "Mundia-Telecommunication Executives have been indicted." This is the same company that Constantine talked to Axe about during his Metallica trip. The entire telecommunication market is crashing with them as arrests and scandals are stretching across various countries, but Axe Capital was safe. Axe reappears at the office and admits that he did all this to avoid drawing attention. Wags tells Axe that he believed Axe was actually leaving, who admits that he did consider it. Just then, Bryan, Terri, and a team of Feds enter Axe Capital and publicly arrest Bill Stearn in front of the entire company.
6	6	"The Deal"	James Foley	Wes Jones	February 21, 2016 (2016-02-21)	1.172^[13]
Wendy asks Chuck to recuse himself from the case. Bryan discovers that Bill has a mistress and second family. Bill accepts the reality of the situation though, and reveals that he was prepared for such a play by Chuck. He sends, via text message, a letter to his wife explaining everything ending his marriage and shocking everyone in the room. Axe suggests they get Lawrence Boyd of Spartan-Ives to say that Axe Capital is a reputable company. Meanwhile, Orrin reports to Axe that Bill didn’t betray him, and asks him to settle. Axe refutes the idea, but is shaken when Lara agrees with Bach's suggestion. He remains firm though, and leaves for the photo-op with Boyd. However, Boyd flakes on Axe, frustrating him. Adam DeGiulio goes to Chuck's office, and states that there is concern they could lose this because of the clear conflict of interest during appeal if Chuck doesn't recuse himself. Eventually, Chuck succumbs and agrees to make a deal, making Bryan furious. Meanwhile, after a conversation with Wendy, Axe decides he will make a deal to save Axe Capital. The deal states that Axelrod will lose his firm, admit guilt, and pay a $1.9 billion dollar fine for the criminal activities. At the plea deal meeting itself, Chuck and Bobby mock each other, and ultimately negotiations break down. Chuck changes the terms of the deal, saying Axe will not be allowed a family office and must agree to a lifetime ban on trading. Axe immediately tears up the $1.9 billion dollar check and throws it in Chuck's face. When Chuck returns to Wendy he lies to her, saying that the deal fell apart because Axe threw a fit. He says that he is officially recusing himself for Wendy's benefit and the case on Axelrod will go on without him. This turns out to be another lie though, as Chuck tells Bryan to keep him informed on all developments, waving off his concerns.
7	7	"The Punch"	Stephen Gyllenhaal	Brian Koppelman & David Levien	March 6, 2016 (2016-03-06)	1.051^[14]
One of Axe’s associates, Bruce Layner, drops the Axelrod children home while under influence. The kids mention Bruce had made a lot of negative comments about their families wealth. On hearing about this, Bobby confronts Bruce and promptly knocks the man on the ground. Axe is informed that the police have come into possession of a video recording of the incident and that the authorities plan to arrest Axe soon. Upon realizing that the video is edited, Bobby asks Wags to find the full unedited footage. Over dinner, Bobby asks Dimonda to sit on the story for one day in exchange for a favour. Axe’s team manages to obtain the full video and upload it to YouTube, where it immediately goes viral. At the Axe residence, Lara, Bobby, and Orrin smile as they watch the full video of Bruce getting knocked down, including the motivations behind the punch. Bryan manages to find a lead on Donnie Caan, one of the top traders at Axe Capital, and convinces him to make a deal to be a criminal informant. Donnie is tasked with getting Axe to confirm a source of insider trade information, all while wearing a wire. Chuck invites Spyros to his office and motions the man to a meeting happening in a closed windowed cubicle. Spyros freezes up at the sight of seeing Martina Slovis behind the windows having a discussion with Kate Sacker. Chuck tells Spyros that he was aware that Spyros had raped Martina when they were younger. Chuck tells Spyros he will either fall back in line and Chuck will resume his dominant role in their teamwork or else he will blow up his life using Martina. Afterwards, Chuck questions Bryan about the informant, who fills him in on how they tracked down Donnie Caan. Bryan confronts Chuck and tells him that he no longer wants the Axelrod case if Chuck continues to interfere in it. Later, Bryan and Donnie meet at night, and Donnie gives Bryan something that he claims will make him happy.
8	8	"Boasts and Rails"	John Dahl	Wes Jones	March 13, 2016 (2016-03-13)	1.093^[15]
Kate acquires a redacted chapter of June’s memoir, revealing to Chuck that Bobby's 9/11 backstory is a lie. Instead of being in the World Trade Center, Bobby was at his lawyer's office negotiating his severance, as his partners were pushing him out due to suspicions of illegal trades. Their deaths on 9/11 saved his career, allowing him to take over and rebrand the firm. Rather than helping with rescue efforts, Bobby continued trading through the tragedy, amassing millions by the market's reopening. Shocked, Chuck leaks this to reporter Mike Dimonda, who warns him about the risks if it’s false, but Chuck is confident in its truth. When Dimonda confronts Bobby, Bobby struggles to keep his composure. The story soon drops, prompting Lara to pull their kids from school. Bobby, though shaken, decides to increase security at Axe Capital and admits to Wags and Orrin that the story is true, acknowledging he seized a $750 million opportunity amid the disaster. Meanwhile, Hall alerts Bobby to a security breach, leading him to demand an investigation. Dale, listening via Donnie’s wire, hears Chuck advising Bryan to frame a fake mole if necessary, which Bryan hesitantly considers. At Axe Capital, three employees have wiped their drives, including Donnie, raising Bobby's suspicions. Donnie’s nervousness confirms his vulnerability, and Hall ultimately points Bobby to “Pouch” as the supposed mole, whom Bobby fires to cover for Donnie. Bryan later confesses to Chuck that he framed Pouch to protect Donnie. That night, Donnie and Bobby meet, reaffirming their alliance as double agents, secretly working together against Chuck.
9	9	"Where the F*** is Donnie?"	Susanna White	Peter K. Blake	March 20, 2016 (2016-03-20)	1.127^[16]
Bobby Axelrod grows suspicious of Donnie Caan, one of his traders at Axe Capital, after suspecting that there may be a mole within the firm leaking insider information. As Donnie goes missing, Bobby becomes increasingly paranoid and takes steps to track him down, fearing the implications for his hedge fund. Meanwhile, U.S. Attorney Chuck Rhoades continues his pursuit of Axelrod, with Donnie becoming a key player in the investigation. Chuck and his team work to pressure Donnie into cooperating with the government to help build a case against Axe Capital. The episode highlights the escalating tensions between Axelrod and Rhoades as both men push their agendas, with Donnie caught in the middle of the conflict.
10	10	"Quality of Life"	Karyn Kusama	Willie Reale	March 27, 2016 (2016-03-27)	1.103^[17]
Bobby Axelrod is devastated by the sudden death of his close friend and trusted employee, Donnie Caan, who had been secretly battling a terminal illness. Donnie’s passing not only affects Bobby emotionally but also presents him with an opportunity to leverage the situation to his advantage in his ongoing rivalry with U.S. Attorney Chuck Rhoades. As Bobby contemplates Donnie's loyalty and his loss, he maneuvers to protect Axe Capital from potential legal exposure. Meanwhile, Chuck Rhoades presses forward with his investigation into Axelrod's firm, but faces ethical dilemmas as he tries to balance his professional duties with the personal cost of his pursuit. Chuck's wife, Wendy, also grapples with the consequences of being caught between her loyalty to Bobby as Axe Capital’s in-house therapist and her relationship with Chuck.
11	11	"Magical Thinking"	Anna Boden & Ryan Fleck	Story by : Wes Jones & Heidi Schreck Teleplay by : Wes Jones	April 3, 2016 (2016-04-03)	1.080^[18]
The tensions between Bobby Axelrod and U.S. Attorney Chuck Rhoades escalate as both sides prepare for their next strategic moves. Bobby, reeling from recent events, begins to rely on his instincts as he seeks ways to protect Axe Capital from legal threats. He makes high-stakes decisions, despite the risks, believing his gut will lead him to success. Meanwhile, Chuck intensifies his efforts to bring Bobby down, focusing on new angles in the investigation and tightening the pressure on key individuals within Axe Capital. Wendy Rhoades finds herself in a difficult position once again, navigating the complicated dynamics between her husband, Chuck, and her boss, Bobby. As the episode progresses, personal and professional lines blur further for both Chuck and Bobby. With each man determined to win at any cost, the stakes continue to rise, setting the stage for the climactic confrontations that will shape their ongoing battle. The episode delves into the psychological and emotional toll their rivalry is taking, while exploring the high-stakes world of finance and law.
12	12	"The Conversation"	Michael Cuesta	Brian Koppelman & David Levien	April 10, 2016 (2016-04-10)	1.013^[19]

No. overall	No. in season	Title	Directed by	Written by	Original release date	U.S. viewers (millions)
13	1	"Risk Management"	Reed Morano	Brian Koppelman & David Levien	February 10, 2017 (2017-02-10) (online) February 19, 2017 (2017-02-19) (Showtime)	0.753^[20]
The $5-million payment from Robert "Bobby" Axelrod into the account of his corporate therapist Wendy Rhoades on the same day that Chuck Rhoades drops his SDNY suit against Axelrod creates a cloud of suspicion on the U.S. Attorney Chuck Rhoades. Axelrod finances a class-action Bivens claim against Chuck Rhoades for violation of his Fourth Amendment rights against unreasonable searches.
14	2	"Dead Cat Bounce"	Ryan Fleck & Anna Boden	Wes Jones	February 26, 2017 (2017-02-26)	0.512^[21]
Bobby Axelrod offers the company intern Taylor Mason an annual salary of $750,000/year even though they want to get an MBA under Eugene Fama at the University of Chicago Booth School of Business. They (Taylor) accept to join Axe for $1 million/year.
15	3	"Optimal Play"	Alex Gibney	Willie Reale	March 5, 2017 (2017-03-05)	0.851^[22]
Chuck Rhoades gets his hands on a recording of Lawrence Boyd in the middle of an intimate moment.
16	4	"The Oath"	Noah Emmerich	Adam R. Perlman	March 12, 2017 (2017-03-12)	0.981^[23]
17	5	"Currency"	Steph Green	Brian Chamberlayne	March 19, 2017 (2017-03-19)	0.857^[24]
Bobby Axelrod (Axe) confronts the possibility of Axe Capital experiencing its first-ever down quarter, primarily due to the collapse of a tech investment in Sansomic. The company’s new glass interface proves defective, leading to a significant financial setback. Determined to avert this, Axe demands his team devise a groundbreaking strategy to reverse their fortunes. Mafee introduces a potential solution involving Everett “Eveready” Wright, a currency trader who possesses insider information suggesting an imminent devaluation of the Nigerian Naira. Axe sees an opportunity to profit by shorting the currency but recognizes the need for substantial backing to influence the market effectively. Axe convenes a meeting with fellow hedge fund managers Todd Krakow, Ken Malverne, and Steven Birch to collaborate on the Nigerian currency play. While Krakow and Malverne agree to participate, Birch, harboring resentment from past dealings with Axe, betrays the plan by leaking information, causing the Nigerian government to take countermeasures that jeopardize the strategy. To salvage the situation, Axe enlists Lawrence Boyd, a respected economist, to publicly advocate for the devaluation of the Naira, aiming to sway market sentiment back in their favor. Meanwhile, Wags returns to Axe Capital after undergoing therapy with Wendy Rhoades. Feeling sidelined by the appointment of Stephanie as Chief of Staff, Wags contemplates leaving the firm. However, Axe, reaffirming Wags’ indispensable role, fires Stephanie and convinces Wags to stay, restoring their professional partnership. On the legal front, Chuck Rhoades intensifies his efforts against Lawrence Boyd by utilizing Tom McKinnon, a disgruntled insider, to gather incriminating evidence. During a dinner meeting, McKinnon successfully records Boyd admitting to illegal activities, providing Chuck with the necessary leverage. As Axe and Boyd prepare for a televised appearance to discuss the Nigerian currency, Axe receives word of an impending arrest warrant for Boyd. Choosing not to inform him, Axe allows the broadcast to proceed, during which Boyd endorses the devaluation strategy. Immediately after, federal agents arrest Boyd, marking a significant victory for Chuck and a strategic win for Axe.
18	6	"Indian Four"	Adam Arkin	Alice O'Neill	March 26, 2017 (2017-03-26)	0.922^[25]
Bobby Axelrod negotiates with Wendy Rhoades to re-hire her.
19	7	"Victory Lap"	John Singleton	Brian Koppelman & David Levien & Alice O'Neill	April 2, 2017 (2017-04-02)	0.903^[26]
Bryan Connerty admits to Chuck Rhoades that he was the one who called the Office of Professional Responsibility (OPR) on Rhoades.
20	8	"The Kingmaker"	Oliver Hirschbiegel	Adam R. Perlman	April 9, 2017 (2017-04-09)	1.029^[27]
Chuck Rhoades forms an alliance with the "kingmaker" Jack Foley in order to run for the governorship of the state of New York.
21	9	"Sic Transit Imperium"	Colin Bucksey	Wes Jones	April 16, 2017 (2017-04-16)	0.847^[28]
Chuck Rhoades angles to become governor of New York state.
22	10	"With or Without You"	Ed Bianchi	Willie Reale	April 23, 2017 (2017-04-23)	0.912^[29]
23	11	"Golden Frog Time"	Karyn Kusama	Story by : Brian Koppelman & David Levien & Brian Chamberlayne Teleplay by : Brian Koppelman & David Levien	April 30, 2017 (2017-04-30)	0.974^[30]
Chuck Rhoades sets up a sting operation to catch Bobby Axelrod manipulating a stock IPO. Chuck loses all his trust fund in doing so, compromising both himself and his father.
24	12	"Ball in Hand"	Ryan Fleck & Anna Boden	Brian Koppelman & David Levien & Adam R. Perlman	May 7, 2017 (2017-05-07)	1.019^[31]
Chuck Rhoades arranges for Bobby Axelrod to be arrested by the Eastern District on condition that his illegal setting up of Axelrod be hidden forever. Connerty goes to Eastern District to prosecute the case against Axelrod. Sachs gets Head of Crim in Southern District under Rhoades. The Lonnie leaves the U.S. Attorney’s office. Bobby, on bail, leaves lock up to find no one waiting for him and goes home. Lara and boys are playing a board game in the house. Chuck walks up the stairs to their house hand in hand with Wendy. Season end on a triple tease: What happens with Bobby and Lara; How long can Chuck stand knowing that Wendy went into a hotel with a presumed lover; What happens with the prosecution of Bobby?

No. overall	No. in season	Title	Directed by	Written by	Original release date	U.S. viewers (millions)
25	1	"Tie Goes to the Runner"	Colin Bucksey	Brian Koppelman & David Levien	March 25, 2018 (2018-03-25)	0.928^[32]
Chuck meets the new U.S. Attorney General, who informs him of his policy to lay off Wall Street crime. Chuck relents and informs Sacker, the new Chief of Crim. Axe is out of prison, but is separated from Lara. Dake, now U.S. Attorney of the Eastern District, is prosecuting the case with Connerty, and have frozen all of Axe's capital, which leaves Taylor, now chief investment officer of Axe Capital in a bad position. Taylor informs all the employees that they must come up with ideas for an "idea meeting" where the top hedge fund managers meet to discuss strategy, and Axe needs an idea to dazzle them all. Spyros is the new Head of Compliance at Axe Capital. Lara comes in with Steven Birch to check on the assets at Axe Capital, leaving Axe frustrated at the state of his marriage. To unfreeze Axe's capital, he must give up his licence to trade, temporarily, an idea he's very uncomfortable with, as he doesn't know where that puts him regarding the firm. He eventually relents, just as Taylor realizes a good play regarding smart chip technology, and subs in for Axe at the idea's dinner. Chuck's friendship with Ira falls apart, as Ira informs him he'll never speak to him again. Chuck also sours his relationship with his father, Rhoades Sr., who tries to get Jack Foley to back someone else for Governor, but fails. Chuck gives an IOU to Dake in exchange for Dake's exclusion of Wendy in the discovery of trades regarding Ice Juice. Lara informs Axe she won't be coming after the money, but warns him not to lose it.
26	2	"The Wrong Maria Gonzalez"	Noah Emmerich	Adam R. Perlman	April 1, 2018 (2018-04-01)	0.839^[33]
With Axe's license to trade suspended, he tries to find creative ways to do so anyway, by contacting previous employees with their own shops. Dake and Connerty get a judge known for favouring the free market, and Chuck can't risk the case like this and pulls in favours in order to get the judge changed. Meanwhile, due to a freak Tsunami in Brazil, Axe's investments are looking down for the day, something Taylor can't have, seeing as Axe has already cordoned off $2 billion, a move seen as lack of confidence in Taylor, but Wags sees through it as a way for Axe to be able to trade by proxy. Meanwhile, Connerty is having his own issues as after confronting Victor Mateo's maid, Maria Gonzalez, who spiked her Ice Juice and drank it on video, Victor realizes she's been compromised, and Axe directs the new replacements for Hall to get rid of her, by having her arrested by ICE, and expediting her deportation. The new AG is not sympathetic to Dake's issues, and refuses to help. Taylor gains the confidence to make a risky play, which Axe respects, and concedes the $2 billion to their control, which they then inform Axe that they'll give to certain outside investors, allowing Axe to trade using them anyway.
27	3	"A Generation Too Late"	Colin Bucksey	Wes Taylor	April 8, 2018 (2018-04-08)	0.849^[34]
Axe approaches Ira, now broke and humiliated, with an offer that if he testifies against Chuck and drop the civil suits, he'll pay him $30 million. After initially refusing, Ira, having to deal with the shame of having to postpone proposing to his girlfriend, accepts the deal. In a meeting to inform Connerty and Dake of his change of heart, he half-blurts out that Chuck and his father are involved as well, before being interrupted by Dake. An argument ensues between Dake and Connerty, with Connerty wanting to know why Dake is trying to cover for Chuck. Meanwhile, Taylor has decided to hire Quant traders at the firm, a decision everyone wrestles with, as they see themselves being slowly pushed out. After several interviews with prominent quants, Taylor realizes that even Wags has been plotting against them by planting a quant whose algorithm merely gave data to support any trades done, to avoid any suspicion of insider trading. Taylor realizes that finding a quant won't do, and decides to create one from within Axe Capital, one that they will oversee. Axe makes a visit to failed hedge fund manager, Michael Panay, and convinces him to be his proxy trader, and sets him up with his oldest client, the NYPD's pension-fund manager, who gets a cut from the trade.
28	4	"Hell of a Ride"	John Dahl	Randall Green	April 15, 2018 (2018-04-15)	0.722^[35]
29	5	"Flaw in the Death Star"	Matt Shakman	Willie Reale & Adam R. Perlman	April 22, 2018 (2018-04-22)	0.874^[36]
30	6	"The Third Ortolan"	John Dahl	Alice O'Neill	April 29, 2018 (2018-04-29)	0.773^[37]
31	7	"Not You, Mr. Dake"	Michael Morris	Brian Koppelman & David Levien	May 6, 2018 (2018-05-06)	0.984^[38]
32	8	"All the Wilburys"	Mike Binder	Story by : Randall Green & Alice O'Neill Teleplay by : Brian Koppelman & David Levien	May 13, 2018 (2018-05-13)	0.965^[39]
33	9	"Icebreaker"	Stacie Passon	Adam R. Perlman & Willie Reale	May 20, 2018 (2018-05-20)	0.952^[40]
Bobby Axelrod gets new info of Grigor Andolov's past dealings. In the office, someone steals Dollar Bill's lucky dollar attached to his trading desk ahead of comp. Kate is having conscience problems as she is being forced to prosecute an innocent man. Axe asks Spartan-Ives for help in his capital raise. Taylor shares an investment plan with Grigor's assistant and purposefully tanks the meeting. Grigor agrees to invest in Axe Cap if Axe can give him an in-person meeting with the Secretary of the Treasury, Todd Krakow. Meanwhile, Connerty gets a job in the FBI after being fired by Chuck. After meeting with the Secretary of the Treasury Grigor tries to force Krakow to give in to him before Axe intervenes. Wags finally catches Rudy as the one who stole Dollar Bill's lucky dollar. Axe talks with Wendy and confronts her about the guilt that she's lately feeling regarding the money she earns, which has caused her to sell her Maserati and start donating to charity. Axe tells her an incident that happened more than a decade ago, which caused his guilt about earning a lot of money to go away. In the end, Grigor visits Axe Cap to sign the deal and tells Axe a story followed by a question that Axe does not know the answer to.
34	10	"Redemption"	Jake Polonsky	Brian Koppelman & David Levien & Matt Fennell	May 27, 2018 (2018-05-27)	0.775^[41]
35	11	"Kompenso"	Jessica Yu	Adam R. Perlman	June 3, 2018 (2018-06-03)	0.900^[42]
Axe determines his employees' worth at the year-end "comp" meetings, at the dismay of Taylor. Chuck advances his plan against Jock by building a case with the Attorney General of New York, Alvin Epstein. Chuck helps rebuild his relationship with Ira by moving against his unfaithful wife by securing his friend's financial and married life. Taylor and Axe argue over Taylor's place and worth at the firm, further alienating Taylor from Axe Capital.
36	12	"Elmsley Count"	Colin Bucksey	Brian Koppelman & David Levien	June 10, 2018 (2018-06-10)	0.938^[43]
Axe dominates a capital raise event, but is betrayed by Taylor, who takes most of the pledges for themself after secretly building the foundations of their own investment firm. Taylor approaches Wendy to jump ship, but she remains loyal to Axe. Chuck looks to strike the final blow against Jock, but is betrayed by Sacker and Epstein. It is revealed that Connerty and Dake decided to expose Chuck's plan to Jock. Chuck is fired and Connerty replaces him. The episode ends with Chuck, Axe, and Wendy sitting at the dinner table at the Rhodes residence, plotting their revenge against Jock and Taylor.

No. overall	No. in season	Title	Directed by	Written by	Original release date	U.S. viewers (millions)
37	1	"Chucky Rhoades's Greatest Game"	Colin Bucksey	Brian Koppelman & David Levien	March 17, 2019 (2019-03-17)	0.843^[44]
38	2	"Arousal Template"	Adam Bernstein	Adam R. Perlman	March 24, 2019 (2019-03-24)	0.790^[45]
39	3	"Chickentown"	Neil Burger	Lenore Zion	March 31, 2019 (2019-03-31)	0.824^[46]
40	4	"Overton Window"	Clement Virgo	Brian Koppelman & David Levien	April 7, 2019 (2019-04-07)	0.886^[47]
41	5	"A Proper Sendoff"	Matthew McLoota	Michael Russell Gunn	April 14, 2019 (2019-04-14)	0.751^[48]
42	6	"Maximum Recreational Depth"	Jessica Yu	Adam R. Perlman	April 21, 2019 (2019-04-21)	0.680^[49]
43	7	"Infinite Game"	Laurie Collyer	Brian Koppelman & David Levien	April 28, 2019 (2019-04-28)	0.741^[50]
44	8	"Fight Night"	Colin Bucksey	Story by : Lenore Zion Teleplay by : Alice O'Neill	May 5, 2019 (2019-05-05)	0.761^[51]
45	9	"American Champion"	Naomi Geraghty	Adam R. Perlman	May 12, 2019 (2019-05-12)	0.678^[52]
46	10	"New Year's Day"	Adam Bernstein	Brian Koppelman & David Levien	May 26, 2019 (2019-05-26)	0.729^[53]
47	11	"Lamster"	Matthew McLoota	Adam R. Perlman	June 2, 2019 (2019-06-02)	0.782^[54]
48	12	"Extreme Sandbox"	Colin Bucksey	Brian Koppelman & David Levien	June 9, 2019 (2019-06-09)	0.793^[55]

List of Billions episodes

Series overview

Episodes

Season 1 (2016)

Season 2 (2017)

Season 3 (2018)

Season 4 (2019)

Season 5 (2020–21)

Season 6 (2022)

Season 7 (2023)

Ratings

References

External links

Wikiwand - on

Season		Episode number												Average
Season		1	2	3	4	5	6	7	8	9	10	11	12	Average
	1	904	950	1282	851	1010	1172	1051	1093	1127	1103	1080	1013	1098
	2	753	512	851	981	857	922	903	1029	847	912	974	1019	880
	3	928	839	849	722	874	773	984	965	952	775	900	938	875
	4	843	790	824	886	751	680	741	761	678	729	782	793	772
	5	610	633	568	625	519	647	660	192	392	318	331	394	491
	6	321	330	315	219	374	338	374	326	310	300	319	322	321
	7	226	186	234	205	184	275	247	TBD	201	196	249	251	223