Netflix Director Gambles $4M Show’s Budget on Dogecoin, Makes $27M in Profits.

Director Carl Erik Rinsch, known for “47 Ronin,” gambled portion of the $61.2 million budget received from Netflix for the sci-fi series “Conquest” on stocks and Dogecoin.

Rinsch, 46, initially secured $44.3 million for his series, but as costs escalated, he requested an additional $11 million from Netflix to sustain production.

However, Rinsch took an unconventional route with the extra funds. Instead of investing in the series, he used $10.5 million from Netflix’s 2020 funding round to venture into the stock market, The New York Times reported.

Court filings and financial documents from his divorce proceedings revealed that Rinsch incurred losses of $5.9 million through stock trading.

After losing money in stocks, Rinsch shifted his focus to the crypto market, where his fortunes took a positive turn. A $4 million bet on the popular meme coin Dogecoin turned into a windfall, yielding nearly $27 million in profits.

Seizing the opportunity, Rinsch indulged in extravagant purchases, including luxury cars like a Ferrari and five Rolls-Royces, along with high-end designer goods, totaling $8.7 million.