Francis Ford Coppola, the renowned filmmaker behind classics like “The Godfather” and “Apocalypse Now,” has taken a significant financial risk with his latest project, “Megalopolis.” The director invested over $100 million of his own money into the sci-fi epic, which reimagines New York City with a Roman twist.
To finance this ambitious venture, Coppola leveraged his successful wine business. In 2021, he merged the Francis Ford Coppola Winery with Delicato Family Wines in a deal reportedly valued at $650 million. While retaining ownership of the Inglenook estate, which includes the family home and original vineyards, Coppola used his stake in the merged company to secure a substantial $200 million loan.
This loan not only funded “Megalopolis” but also supported other projects at the Inglewood estate and the Sentinel Building in San Francisco, which Coppola owns. When asked about his approach to financing the film, Coppola told The Wall Street Journal, “I went to the bank and said, ‘How much can I borrow?'”
The director’s son, Roman Coppola, expressed admiration for his father’s bold move, describing it as “thrilling” to see him pursue his passion with such commitment.
However, early box office projections for “Megalopolis” suggest a challenging road ahead. The film, which hit theaters on Friday, is expected to earn between $5 million and $7 million in its opening weekend. This figure falls far short of the reported $120 million to $136 million production budget, raising concerns about the film’s financial prospects.
Critical reception for “Megalopolis” has been mixed, with some reviewers praising its ambition while others have been less favorable. The Wall Street Journal went so far as to label it a “spectacular catastrophe.” The film has also faced controversy, including allegations of inappropriate on-set conduct by Coppola, which he has denied. Additionally, distributor Lionsgate withdrew a trailer for the film after reports emerged that it contained inaccurate quotes from critics.
Despite these challenges, Coppola remains optimistic about the film’s future. He told The Wall Street Journal that he anticipates a “very auspicious opening” and believes that “time is on my side.” The 85-year-old filmmaker also hinted at a potential contingency plan involving a tax write-down, stating, “I’m very old so it all goes into an estate plan.”
Coppola’s willingness to risk his personal fortune on “Megalopolis” demonstrates his unwavering commitment to his artistic vision. This approach is reminiscent of his earlier career when he famously mortgaged his home to complete “Apocalypse Now,” a gamble that ultimately paid off with critical acclaim and commercial success.
As “Megalopolis” enters the marketplace, industry observers and film enthusiasts alike will be watching closely to see if Coppola’s latest cinematic gamble will yield similar results. The film’s performance could have significant implications not only for Coppola’s legacy but also for the broader landscape of independently financed, high-budget filmmaking in an era dominated by studio franchises and intellectual property.
Regardless of its commercial outcome, “Megalopolis” stands as a testament to Coppola’s enduring passion for cinema and his willingness to take extraordinary risks in pursuit of his creative goals. As the film industry continues to evolve, Coppola’s bold approach serves as a reminder of the power of artistic vision and the potential rewards of following one’s creative instincts, even in the face of financial uncertainty.