Billionaires’ Bunker season 1 ending explained: Can Max escape the ultimate trap?

Billionaires’ Bunker season 1 was released on Netflix on September 19, 2025. Co-created by Álex Pina and Esther Martínez Lobato, the Spanish thriller series follows a group of elite billionaires who take refuge in a luxurious underground bunker, Kimera Underground Park, in response to the threat of nuclear war.

What begins as a desperate attempt to survive soon turns into a terrifying journey of secrets, deception, and power plays among the wealthy elite.

Disclaimer: The following article contains spoilers from Billionaires’ Bunker season 1. Reader’s discretion is required.

In Billionaires’ Bunker season 1, Max, the protagonist, is brought into the bunker by his father, Rafa, as the world faces a nuclear crisis. However, as the season unfolds, Max discovers that the nuclear threat is entirely fabricated. The bunker itself is a scam designed to trap billionaires underground for Minerva’s personal gain.

As Max investigates, he uncovers the truths about his family’s secrets and the dark motivations of those behind the scheme. Max does manage to escape the bunker, stepping into the sunlight, but the scene cuts before revealing what lies beyond the door.

Max’s escape and the final conspiracy unfold in Billionaires’ Bunker season 1

A still from Billionaires’ Bunker season 1 (Image via Netflix)

Billionaires’ Bunker season 1 ends on a tense cliffhanger that leaves fans wondering what will happen to Max. Max makes the brave choice to leave the suffocating world that Minerva and her friends have made now that he knows what's going on.

He tries to leave the underground safety, but there is only a metal door between him and the outside world after learning that the nuclear apocalypse is a lie.

Max is acutely aware of the danger he is in. Max steps outside for the first time in the show's history at the end of season 1, but the camera cuts away.

The dark truth behind Kimera Underground Park

As the series progresses, the truth behind the bunker becomes clearer. Kimera Underground Park, originally believed to be a haven from a nuclear disaster, is revealed to be a carefully orchestrated scam designed to trap the world’s wealthiest individuals.

Minerva, the mastermind behind the operation, has fabricated the entire doomsday scenario in order to manipulate the billionaires and gain control over their vast fortunes.

Max and his allies, including Asia, start to question the motives behind the bunker. The tension rises as they discover inconsistencies in the bunker’s story, from the surveillance system monitoring their every move to the fact that supplies are arriving with a precision that seems artificial.

Max, who has already been through the hard parts of jail, starts to think that something is not right and starts to look into it more. The "nuclear apocalypse" never happened, as he finds out through his research. All of it was a trick to keep them hidden so Minerva could make money.

Mimi’s death and the collapse of the bunker’s illusion

As Mimi's sudden illness becomes a turning point in the story, the bunker's fake reality starts to break down even more. Mimi gets very sick and needs to see a doctor. She has been having problems with her stomach.

Max takes advantage of the situation to get her the medicine she needs so badly. Mimi's situation gets worse because of drugs and bad medical care, even though he tries to help.

Mimi’s death highlights the fragility of life even within the confines of luxury and wealth. While Max pushes forward in his quest for freedom, his escape is also a reflection of the failed system inside the bunker.

The fact that Mimi died makes the situation even more hopeless and shows that the bunker can't really save anyone. Her death is also a warning of how people who aren't part of the elite class are hurt by having a lot of money and power.

Asia’s confession and Max’s return to the surface

One of the most significant emotional moments in Billionaires’ Bunker season 1 is Asia’s confession of love to Max. Initially harboring deep hatred for Max due to his role in her sister Ane’s death, Asia slowly begins to realize her true feelings for him.

The two decide to escape together, hoping to find a life beyond the lies of the bunker. As they say goodbye, Asia promises to wait for Max to come back if he manages to get away. But Max has already decided to go on his own. He doesn't want the false safety of the tunnel; he wants to explore the unknown world outside.

This moving conversation between Max and Asia shows how their relationship is growing and how important it is to seek the truth even when things aren't clear.

Oswaldo’s fate

As Max and Asia prepare for their escape, another critical plot thread involving Oswaldo comes to light. Oswaldo, who has been investigating Minerva's operations from the outside, uncovers the truth about the scam but is ultimately silenced before he can reveal it to anyone.

In Bangkok, Oswaldo starts to suspect that the world he knows is a fabrication. His investigation reveals that Minerva’s plan extends beyond the bunker, targeting not just the billionaires but also their business empires.

In the end, Oswaldo’s death at the hands of Minerva’s operatives serves as a warning to anyone who dares to challenge the conspiracy. His fate is tragic, as he becomes just another casualty in Minerva’s ruthless pursuit of power and wealth.

Billionaires’ Bunker season 1 is available for streaming on Netflix.

About the author

Rajan is an Entertainment Writer at Sportskeeda with previous experience of 6 years in writing about the genre. While he has a Bachelor's degree in Computer Application, it was his passion for the domain that led him to pursue a career in the field. He firmly believes that research is key when reporting on any topic, and glances through a wide array of articles to produce informative and accurate content.

Rajan admires Robert Downey Jr., Bob Dylan, and John Mayer since he feels they are the best at their trade. He is passionate about music and has had the opportunity to interact with popular Bollywood music directors A. R. Rahman, Pritam and Vishal-Sekhar.

If he could go back in time, he would jump at the opportunity to be part of Coldplay's hit track, 'A Sky Full of Stars.'

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Edited by Rajan Bhattacharya