Nate Jacobs Owes Naz Money — and ‘Euphoria’ Fans Have Questions

Season 3 of HBO’s Euphoria is in full swing, and viewers are catching up with the chaotic lives of the East Highland High School alums. Rue (Zendaya) is currently working as a drug mule and strip club den mother. Maddie (Alexa Demie) is living her best life and on track to become a talent manager.

Jules (Hunter Schafer) is a former art student turned sugar baby. Lexi (Maude Apatow) is living out her dream as an assistant to a Hollywood showrunner.

As for the folks, most fans aren’t too wild about: Cassie (Sydney Sweeney) is living life in suburbia as a miserable, kept woman chasing fame. Nate (Jacob Elordi) is a businessman who appears to be in over his head.

While the season started with the pair prepping for their wedding, the Sunday, April 26, 2026, episode showed the pair tying the knot. And while the wedding was an interesting one, it revealed a lot of truths Cassie hadn't been aware of. And as a result, Nate got a grade-A beatdown by a Russian man to the delight of viewers.

In Episode 3, Naz made a shocking appearance at Cassie and Nate’s wedding. And to Cassie’s surprise, she learned the truth about Nate’s recent activities.

Naz walked over to the bride and groom’s table and confronted Nate about the failure of payment. Nate, who is currently deep into developing a senior living facility, has been taking money from investors and failing to repay them.

However, since an exotic flower was found on site, production has ceased, which has slowed up Nate's ability to pay back his investors.

So, since Naz walked into a luxurious wedding, despite not being paid over half a million dollars, he’s owed. Not to mention, Nate has been dodging his calls like a man dodging child support payments.

"I used to be your husband’s friend," Naz says to Cassie. "I’m gonna become his worst f---ing nightmare."

After Cassie learns that she and Nate are actually poor, she crashes out at the wedding. A champagne bottle she was waving in anger pops open, and the cork lands in Nate’s eye, causing a disturbance at the wedding.

Nate later manages to butter up Cassie on their ride back to their home, where she agrees to let him handle everything.

Once Cassie and Nate arrive at their home, expecting to consummate their marriage, things immediately go wrong.

Naz is seen sitting on their couch, enjoying a snack. His henchman immediately goes after Nate, who tries to flee. The man immediately proceeds to beat the living daylights out of Nate.

A helpless Cassie tries to pull Nate, and is pushed hard to the floor by the henchman. She then sustains a nose injury and proceeds to bleed out. She then starts crying about this being the worst day of her life, as Naz, who continues ot enjoy his snack, tries to comfort her to no avail.

The beating reaches a new level, as Naz clips Nate’s toe off in the living room, and Cassie looks on in horror.

As Naz and his minions leave, he gives Cassie a chilling message.

"Some women inherit wealth, you inherit debt,” Naz told an emotional Cassie.

His message is pretty clear: If they’re unable to get their money from Nate, Cassie will be held responsible. And it’s at this point, many viewers believe that Cassie and Nate got the coldest serving of karma for their actions.