If you’re reading this, it means you’ve made it through the rollicking twists and turns of Gunther’s Millions, a four-part docuseries that meticulously teases out the furry tangles of a millionaire German shepherd, his eccentric Italian owner and the seemingly endless cast of characters who cross paths over 30 years (and counting). Even if you sat, stayed and paid close attention to every single second of the series, you may have a few questions  — namely, what the f**k happened at the end?

The last episode of Gunther’s Millions is the wildest part of the story itself — but first, let’s go back to the beginning. The series, told in English and Italian, begins with the story of a German doctor who made millions in pharmaceuticals back in the ’80s. Through his work, he was able to provide his wife (a countess) and son with a life of luxury. The story goes that despite their wealth and privilege, the son died by suicide, thus making the family dog Gunther the heir to their $400 million fortune. When the countess also passed away, she left Gunther (and the dog’s subsequent heirs) to a family friend named Maurizio Mian, an Italian eccentric and entrepreneur. The series chronicles Mian’s life with the original Gunther (he now owns Gunther VI) and their financial exploits, including offshore accounts, the purchase of Madonna’s former home and elaborate social experiments involving sexy locals in bikinis, Italian porn stars and a pop group no one’s ever heard of. 

Throughout the entire complicated, sordid tale, director Aurelien Leturgie and executive producer Emilie Dumay toy with the idea that perhaps Mian isn’t telling the truth. In their interviews with his associates, certain questions cause them to stonewall or default to a coy, “Maybe you should ask Maurizio.” It’s not until the final episode that you get a full explanation of how the entire unhinged succession tale came to be.

🤐 SPOILER ALERT 🤐

So, what happens at the end of Gunther’s Millions?

Episode 4, “Heir of the Dog,” reveals a twist in the story: Mian admits that neither the German countess nor her son Gunther ever existed. Mian explains that he personally suffered from depression for years, and projected his own mental health issues onto the fictional (human) Gunther. In the series, there’s speculation that Mian’s ruse was a result of the issues he had with his own mother, as well as the pressure she put on him to become a scientist. 

Where did the dog — and the money — come from?

The original Gunther –– Gunther II –– was owned by Mian and his ex Antonella Signorini. At the time, Mian worked for his family’s pharmaceutical business and used the dog to promote an osteoporosis drug. Mian says that his mom really did have a German friend who helped with their trust, but she’s never named in the series. In the end, we find out that it was Mian who made the dog the head of his empire, as well as the family tax vessel and legal heir to Mian’s fortune. 

Wait, but what’s up with that animal sanctuary in the Bahamas?

In the final episode of Gunther’s Millions, we learn that after Gunther V was sired, Mian set up a company called Forteriva to breed Gunther’s progeny, run by an award-winning German shepherd breeder named Alarico Sgroi. However, it was quickly discovered that the dogs being bred by Sgroi were living in squalid conditions, and to correct the problem, Mian says he and his associates found foster homes for all the dogs. As a result of that experience, he and his ex Carla are now planning to build an animal sanctuary on an island in the Bahamas, an endeavor that may raise some eyebrows about Mian’s ulterior financial motives. However, according to Leturgie and Dumay, the process is genuine, and still underway: “Their animal sanctuary is something really dear to them, and I think they’re worried about partnering with the right people because of their issues in the past,” Dumay tells Tudum.

Leturgie added that despite the slow progress, lingering questions about the sanctuary and a history of distorting the truth, he feels that Mian’s intentions are ultimately in line with his claims.

“I think they realized the logistical issues of building a sanctuary on an island — a remote island,” says Leturgie. “It was very complicated, and I think that’s delayed their progress. We’re checking in with them quite a bit.”

So is Gunther’s Millions real or not?

Despite the open-ended question of what’s next for Mian, Gunther and his fortune, both Leturgie and Dumay say that the ending of Gunther’s Millions is less about granular details and grandiose plans than it is about what’s fundamentally true: the authentic relationship between a man and his dog. They say that all twists, turns and shocking revelations aside, Gunther and Mian’s bond is very much real, they’re both still well and have plenty of adventures ahead.

The Most Shocking Moments from ‘Gunther’s Millions' The story of the 'World's Richest Dog' comes with a few twists and turns.

“We wanted to end on the dog because the dog is really the center of the story — and we wanted people to really feel like this is a story,” Dumay explains. “There are things we reveal throughout the series that are real or not real, but at the end of the day, this is the story of a dog… the richest dog in the world.”

“It’s like the line in the last episode,” Leturgie says. “Is it real? Is it fiction? Does it even matter at this point? Gunther is real, but he’s well beyond just a German shepherd. He’s a concept. An ideology. A lifestyle.”

Gunther’s Millions is available to watch on Netflix now.