Young film producer, Monroe Stahr, is a rising star in 1930's Hollywood due to his ability to get anything he envisions done even if it means breaking a few rules. The latest film he's working on stars two popular actors, Rodriguez and Didi, and everyone is sure it'll be a smashing hit when it's done. The times are changing however, since the first guilds and unions are being formed in Hollywood, but Stahr is still sticking to his old ways of doing things in spite of that. His main opponent becomes a union organizer, Brimmer, but Stahr finds ways to deal with him as well. However, in his hubris, Stahr crosses one red line too many when he falls for a young troubled engaged woman called Kathleen Moore and neglects Cecilia Brady, the young daughter of studio executive and Stahr's boss, Pat Brady. Pat becomes furious over this as well as Stahr's other misbehavings and makes it his mission to take Stahr down. Due to all the pressure, Stahr's health starts failing as well. The film is based on F. Scott Fitzgerald's last novel The Last Tycoon that was never finished. The character of Monroe Stahr is based on Irving Thalberg, the production chief at the Metro-Goldwyn-Mayer (MGM) film studio during the late 1920's and 1930's. The character of Pat Brady is based on Louis B. Mayer himself, the legendary co-founder of MGM.