148 of the most lucrative investments on record, from Naspers in Tencent to Ackman's COVID hedge. Each made at least $1bn at 5x or more, or $10bn at 2x or more. Filter by stage or investor move, and open any deal for the facts behind its numbers.
IRR shows what time did to each result: the same multiple earned over 3 years or 30 years is a very different investment. Deals held under a year are left out (IRR not meaningful).
Colour by
Gain vs IRR
Gain axis
IRR on a log scale. Dot size follows gain.
Near misses
Famous deals that pass neither tier as set in the workbook (≥$1bn at ≥10x, or ≥$10bn at ≥2x).
To verify
Likely qualifiers where the cost or stake is not public yet.
What the list says
Patterns across every deal that passes the rule. Figures are computed live from the ledger, so they update if deals are added or removed. Examples are illustrative.