The first episode of the science fiction series “Conquest” on Netflix has not yet aired. Director Carl Erik Rinsch, who is renowned for movies like 47 Ronin (2013), is in charge of this project.
The $44 million budget that the series was originally given shows how confident Netflix was in Rinsch’s ability to produce a hit show.
Rinsch asked Netflix for further funding in March 2020 in order to finish the series. The $55 million total budget for the series was increased by the streaming behemoth’s agreement to contribute an additional $11 million. This was contingent upon the series’ conclusion.
However, much discussion and speculation have surrounded Rinsch’s usage of the series’ budget. It is said that he invested $10.5 million, a sizable amount of the extra cash Netflix gave him, in stock market investing.
Rinsch’s attempt to enter the stock market proved unsuccessful. He made the dangerous decision to take options bets on the S&P 500 and pharmaceutical companies, which cost him about $6 million in losses.
With just over $4 million left over from the extra funding, Rinsch made the decision to enter the cryptocurrency market, another high-risk, high-reward financial sector.
Rinsch’s investment of choice was Dogecoin, a cryptocurrency that began as a joke but has now gained significant market momentum. Rinsch made an incredibly profitable wager, demonstrating the unpredictable and volatile character of cryptocurrencies.
Rinsch supposedly sold off his Dogecoin holdings in May 2021, making a $27 million profit. This represented a substantial recovery from his early stock market losses.
After his successful Dogecoin business, Rinsch allegedly spent a large amount of his $9 million cryptocurrency proceeds on a variety of upscale products and activities.
According to reports, these purchases included a watch valued at over $380,000, fashionable clothes, and opulent furnishings. Rinsch also bought a Ferrari and five Rolls-Royces to add to his collection of automobiles. The director’s appreciation for finer things in life is reflected in these purchases, which also highlight the magnitude of his recent wealth.
Rinsch’s investment in Dogecoin was profitable, but his connection with Netflix has soured. The director has filed a private arbitration lawsuit against the streaming service giant, claiming that it violated their agreement. Rinsch is suing Netflix for damages totaling $14 million.