Who dies in Money Heist season 5, volume 1?

By Daniel Hart
Published: September 3, 2021 (Last updated: February 17, 2024)
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Who dies in Money Heist season 5, volume 1 - netflix series

This article, “Who dies in Money Heist season 5, volume 1,” contains major spoilers regarding the Netflix series.

Read the season 5 review of Money Heist.

Read the recap of the fifth episode.

A LOT happened in volume 1 of Money Heist season 5. In true final-season style, the mortality of the characters is in question. It’s a war, after all. The characters are shunned inside the Spanish bank, desperately trying to do the impossible. Here’s a breakdown of who dies in Money Heist season 5, volume 1, including those who may be about to meet their fate as well.

Who dies in Money Heist season 5, volume 1a breakdown


Let that sink in. Tokyo was the first character to introduce the story back in season 1, and in episode 5 of season 5, she gets her own centric chapter for a reason. While there is no dead body to prove it, it’s well and truly a death. It would be wild for the writers to worm Tokyo out of this one.

As Sagasta and the army squad rush the kitchen, a wounded Tokyo stays behind to fight them while Denver and Manila make it down the dumbwaiter shaft. Unfortunately, due to her injuries, Tokyo cannot climb down the shaft. Underneath Tokyo, Rio has created a hole to try and save her, but it isn’t enough. The pair bid each other an emotional farewell before she is shot multiple times.

Bleeding on the floor and dying, Gandia stands over her, smiling. He believes he has the last word, but Tokyo is always full of surprises. She slowly opens her hand to show Gandia multiple metal rings and smiles at him — she has let all the grenades strapped to her go off. There’s a loud explosion, and the heist team is devastated. For the audience, this character’s death may hurt just as much as Nairobi. RIP Tokyo.


And so, there’s a strong assumption that the evil security guard Gandia is also dead. It would be terribly cruel if Gandia survived the blast of that many grenades. It would also be cruel to the writers if Tokyo didn’t get her revenge on Gandia. His character does not need developing anymore — he peaked when he killed Nairobi. Thus, we can only assume that season 5, volume 2 opens confirming that Gandia is dead.

Who might die?


It’s not exactly clear if Arturo died or not. While the story angles that Colonel Tamayo wants Arturo to die so he can label the heist team murderers, the last we saw of Arturo is him being hoisted into an ambulance after his pulse returns. Of course, Stockholm is feeling an abundance of guilt and trauma for shooting him.

So did Colonel Tamayo actually allow Arturo to die, or did the most irritating character of the series survive? I’m sure it will be confirmed in volume 2 of season 5.


This is clutching at straws, to be honest. But in episode 5, Stockholm has a panic attack; she’s hallucinating and keeps seeing Arturo. The guilt and stress have crippled her, and she decides to take an injection of morphine. As the episode ends, she’s barely conscious and appears to be struggling due to the effects of the morphine. Has she overdosed? Denver appears to be distressed when he sees her. While it doesn’t feel Stockholm has died here, there’s a slight possibility she could. Let’s hope not. We want this character to have a happy ending.

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