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Well the valuation was always there, not sure his how his racist remarks helped realize the gains aside from forcing him to sell.

That analysis is deeply flawed. He didn't realize a 160x return because of those remarks. I highly doubt that those remarks increased the value of the team.

It's a 16.6% CAGR - very good, but less astronomical than looking at simply the multiple of the original purchase amount.

16.6% CAGR over 33 years is astronomical. Apple, one of the most successful corporations in history, has achieved an 18.95% CAGR since its launch in 1984. $100,000 invested in Apple in 1984 yields $18 million today. You can play with that here: http://forio.com/contour/examples/investment/investment.html

Achieving a double digit CAGR over multiple decades is extremely rare.

He would have made that money anyway. Actually he lost money. If he sold it later it might be worth even more.

Correlation does not imply causation