The Last Laugh - Ending Explained

The plot takes a sharp turn after the Doorman hits rock bottom. Sitting in the washroom, covered by the Night Watchman's coat, he represents total defeat. The film then cuts to an intertitle explaining that the author has 'taken pity' on him. We jump forward to see the Doorman dining lavishly at the same hotel. We learn through a newspaper that an eccentric millionaire, A.G. Monen, died in the hotel washroom and left his fortune to 'whoever held him in his last moments'—which happened to be the Doorman. The film ends with the Doorman, now rich, treating the staff with kindness (unlike the guests who treated him poorly) and riding off in a carriage, giving a final laugh at the absurdity of fate.

The most debated aspect is the ending. A straightforward reading sees it as a joyous triumph for the underdog. However, a critical reading—supported by the intertitle—suggests it is a biting satire. By making the ending so absurdly impossible (a random millionaire dying in his arms), Murnau emphasizes that for the working class, only a miracle can save them from destitution. The ending mocks the audience's desire for happiness in a world that offers none.