After becoming an international phenomenon, Money Heist came to an end after its fifth season. The show's memorable and captivating characters were one of the main reasons why the series resonated so strongly with many different audiences.
Some characters got the happy and triumphant endings they deserved while others got fitting conclusions through the lasting sacrifices they made and the consequences they faced. Not every character got a deserving resolution, though, with some deserving more autonomy, development, or consequences in terms of how their stories ended.
Characters Who Got Fitting Endings
The Professor
In a development reminiscent of Breaking Bad's Walter White admitting in the series finale that everything he did was primarily for himself and not his family, the Professor admitted in the final episodes that he largely did these heists for his own purposes. The heists were also about honoring his father and his brother and making political statements. But the Professor was finally honest with himself and with Lisbon.
He is a thief by nature, comes from a family of thieves, and loves the thrill of planning and executing a successful heist. This honesty was the most satisfying part of the Professor's ending, but it was also fitting to see him fulfilling the Bank of Spain heist originally envisioned by Berlin, and to once more outsmart the authorities and walk away wealthy and content.
Tokyo
Tokyo was brave, hotheaded, bold, and loved others deeply. All of these aspects of her character culminated in her heartbreaking sacrifice as she blew herself up and simultaneously took down Gandía and most of the special forces sent into the Bank of Spain.
Tokyo died doing something bold to protect the ones she loved. She went out in an explosive fashion on her own terms. The show made her end even more heartbreaking by giving her some last-minute flashbacks that made her more empathetic and likable than she'd even been before. Tokyo showed after the Royal Mint of Spain heist that she'd never be happy riding off into the sunset. While tragic, this was the best possible end for her character.
Rio
The gang reunited and the Bank of Spain heist only became a reality because of Rio. While many other things happened along the way and there were other character motivations in play, it all came back to saving Rio from captivity and torture. If Rio hadn't been saved and survived, Tokyo's ultimate sacrifice and other characters' sacrifices and suffering would've ultimately felt in vain.
Rio ending the heist alive and as a free man meant that regardless of anything else, the heist was a success and those sacrifices were not pointless. Rio remaining optimistic even when things started to look particularly dire toward the end of the heist also showed that he hadn't lost hope and that despite everything he lost and all his suffering, he still had a bright future ahead of him.
Alicia Sierra
Alicia Sierra was a brilliant and formidable individual, and one of Money Heist's best law enforcement officers. Yet, Colonel Tamayo and the other authorities had no issue throwing her under the bus to take the fall for their many mistakes and crimes. Sierra eventually joined the Professor and became a crucial member of his group, as she was the one who figured out where Rafael and Tatiana hid the gold that they stole.
After being betrayed, scapegoated, and forsaken by Tamayo and her other colleagues, Sierra chose to side with the people who actually cared about her and valued her skills. She admitted to lacking emotion when doing horrible things and when horrible things happened to her. Thanks to the Professor's compassion and belief in her, Sierra began to feel again. She chose the right side, made an invaluable contribution to the heist's success, and got a fresh start for herself and her newborn baby in the end.
César Gandía
Tokyo killing Gandía was a perfect ending for his deplorable character. He killed Nairobi in cold blood and Tokyo vowed that she would get revenge. Gandía had also previously taken Tokyo hostage and on numerous occasions made disgusting comments about how he wanted to sleep with her.
All of this made it satisfying that Tokyo was the one to kill him, especially at a moment when the arrogant Gandía thought he had the upper hand. Tokyo got revenge for Nairobi and for herself while ensuring that no one else in the gang would ever suffer at the hands of Gandía again.
Lisbon
Some members of the second heist didn't fully trust or believe in Lisbon. While she ultimately helped them during the Royal Mint of Spain heist, she had been their adversary for the majority of it and had no experience executing a heist herself. In one of his more hated moments, even the Professor initially had issues working with and fully trusting the woman he loved during the second heist.
During the final season, Lisbon proved to be one of the most levelheaded, calculated, and effective leaders during the heist. She more than proved herself and earned the unconditional love and respect of the whole gang. Without her invaluable leadership, the heist would not have been pulled off in the end. She and the Professor also worked through some of the issues they were having and ensured their relationship was in a good place.
Characters Who Deserved More
Nairobi
While characters like Tokyo and Berlin got to go out in a blaze of glory, it was frustrating to see Nairobi unable to go out on her own terms. She was just as fierce and bold as Tokyo and Berlin, but she died as Gandía's hostage and didn't own her death like they did.
Nairobi was arguably the soul of the gang. She deserved to go in a way that gave her more agency. Nairobi's devastating end had the intended emotional impact on the audience and the characters, but while it might have been necessary for the story, her individual character deserved better.
Luis Tamayo
In his desperate efforts to stop the Bank of Spain heist, Colonel Tamayo committed many corrupt and reprehensible actions. However, Tamayo didn't face any real consequences in the end and was even believed to be a hero. The public was left to believe that Tamayo took down all of the heist members and got all the gold back, thus saving Spain from economic disaster.
While this was all part of the Professor's plan and necessary for the gang to leave the Bank of Spain alive and free, it was disappointing that Tamayo didn't have to pay for his actions and will be remembered in a positive light by much of the world.
Bogotá
Even though he was in the show for 3 seasons, Bogotá still felt incredibly underdeveloped by the end of the series finale. Watching the Professor, Stockholm, Palermo, and other brave Money Heist characters riding off into the sunset felt earned. These characters were well-developed; fans were invested in them and relieved to see them get their happy endings.
Seeing Bogotá with this triumphant group didn't have the same impact and almost felt out of place because of how bare-bones his character was. He was falling in love with Nairobi and was heartbroken after her death, he had 7 kids with 7 different women, and had some history with Berlin, but otherwise, there wasn't much fans knew about him, and he never received the character development he needed for fans to be invested in him and his ending.
Ángel Rubio
Despite his connections to Lisbon and the previous heist, Ángel mostly ended up feeling like he could've been interchangeable with any other police officer working with the authorities. There was the occasional line referencing his past work and he'd occasionally reprimand Tamayo for going too far, but he spent most of this heist running around and being outsmarted by the Professor like anyone else.
The series finale didn't take any time to address how he felt about being beaten by his old partner Lisbon and the rest of the gang, especially considering how he ended up letting them escape during the previous heist.