Money Heist Timeline: Every Heist, Death, and Major Twist in Order
Two robberies, five parts, a body count that climbs both times — here's the whole run from the Royal Mint to the Bank of Spain laid out in the order it actually happened.
Money Heist covers two jobs and a long, tense gap in between. The first prints money. The second steals gold to rescue someone the first job left behind. Both jobs cost the crew members of its own. If you’ve finished the series and want the events untangled from all the flashbacks and voiceover, here’s the run, start to finish.
Before the Mint
The whole thing starts with a dead father. The Professor — Sergio Marquina — grew up watching his father die as a small-time bank robber, shot during a job meant to pay for Sergio’s medical treatment. The Royal Mint plan wasn’t Sergio’s invention; he inherited it from that same father, then spent years refining it into something his father never managed: not stealing money that already exists, but printing new money inside the state’s own building.
His older brother is Berlin — Andrés de Fonollosa — who by this point is living with a terminal diagnosis, Mossman’s disease. That clock is part of why Berlin signs on to lead the floor: he isn’t planning a quiet retirement in Cambodia like the rest of them.
Sergio recruits a crew of strangers and runs them through five months of rehearsal in a country house in Toledo. Everyone takes a city codename — no real names, no surnames, so no member can ever give up another. That’s where he assembles the people who’ll be on the floor: Tokyo, the narrator, pulled in at her lowest after her boyfriend was killed in a botched robbery; Denver and his father Moscow; the hacker Rio; Nairobi, who’ll run the printing and quality control; Helsinki and Oslo, the muscle. Berlin runs the room. Sergio stays outside, the only one who never enters the building.
The Royal Mint (Parts 1–2)
The crew storms the Royal Mint of Spain, takes hostages, and starts printing. The goal is roughly €984 million in legal banknotes — money the state can’t call counterfeit, because the state’s own machines made it. Outside, the Professor manages every crisis by phone while shadowing the lead inspector on the case, Lisbon — Raquel Murillo. He’d targeted her deliberately, getting close as a mild-mannered man named Salva. He ends up genuinely in love with her, and she arrests him anyway once she pieces it together.
Inside, things fray. Berlin’s grip on the hostages turns brutal, the negotiation curdles, and Oslo dies. The Mint’s hardest loss comes near the end: Moscow is killed inside the building, and Denver loses his father on the floor.
The crew gets the money out, but the exit costs them their leader. Berlin stays behind, holds off the police with a gun and a grin, and is gunned down so the rest can disappear through the tunnel. The crew scatters across the world. The Professor and Raquel — now Lisbon — slip away together.
Between the heists
The money’s spent, the crew’s spread out, and then the state makes a move. Rio is tracked through a phone, captured, and tortured in custody. That’s the trigger for everything that follows: the Professor calls everyone back not for a payday but to get Rio out.
This second plan was designed years earlier by Berlin and his old love and design partner, Palermo — Martín Berrote. With Berlin dead, Palermo takes the strategic seat for the new job.
The Bank of Spain (Parts 3–5)
The second heist is bigger: break into the Bank of Spain, melt down the country’s gold reserves, and extract them — all while forcing the state to release Rio. The crew swells with new faces and the returning core.
Part 3 ends on a gut-punch: Nairobi is shot through a window by a sniper. She survives that, but her run isn’t over. In Part 4 the rogue security head Gandía, loose inside the building, takes her hostage and executes her. Helsinki, who’d carried Oslo before, carries her too.
Palermo’s stretch in charge turns into a power trip ugly enough to spark a mutiny, with Nairobi leading the pushback before her death — something he comes to regret.
Then Part 5 Volume 1, Episode 5: Tokyo is cornered and shot multiple times by Gandía’s assault team. Out of options, she pulls the pins on a pair of grenades and takes Gandía down with her. Her voiceover keeps narrating afterward, even though she’s gone.
Outside, the state has swapped inspectors — Alicia Sierra, heavily pregnant and ruthless, replaces Lisbon and runs the case hard, eventually cornering the Professor on her own.
The aftermath
The finale’s twist is that the gold the crew spent five parts melting and hauling was quietly swapped for brass on the way out. The real gold is already gone — sitting in Portugal. The state, rather than admit it was robbed and humiliated, declares the crew dead and announces the reserve “recovered.” Everyone walks.
Rafael, Berlin’s son, returns his stolen share after a note from the Professor. And Alicia Sierra — who’d gone rogue once the state betrayed her, then ended up complicit in the escape — gets fresh papers for herself and her daughter Victoria, and disappears.
Where the Berlin spinoff fits
If you’ve watched Berlin (2023), it lives in the gap before the Bank of Spain, back when Berlin is in his prime and his diagnosis is still ahead of him. It’s a Paris jewel heist with a different crew — Damián, Keila, Roi, Cameron, Bruce — so it doesn’t change the Money Heist timeline above. Think of it as a flashback window into who Berlin was before he walked into the Mint.