Two years in the past, Francis Ford Coppola launched one of the vital bold films in current reminiscence. Powered by an all-star solid that included Adam Driver, Shia LaBeouf, Aubrey Plaza, Dustin Hoffman, and Laurence Fishburne, “Megalopolis” was a sprawling sci-fi epic a couple of visionary architect who tries to rebuild New York Metropolis after a catastrophic collapse. It was a movie that Coppola first dreamed up within the late Nineteen Seventies — a grand assertion about civilization, energy, and hope. He practically made it in 1989, then once more within the early 2000s, however every try collapsed beneath the burden of its scope and price.
Disillusioned by the studio system and bruised by a number of field workplace disappointments, Coppola shelved the undertaking and turned his focus elsewhere. Over the following twenty years, he constructed one of the vital profitable impartial empires in Hollywood. His Napa Valley wines grew to become a family identify, his resorts in Central America and Italy drew vacationers from around the globe, and he appeared to have lastly achieved the steadiness between artwork and enterprise that had eluded him for many years.
Then, in 2022, Coppola shocked the movie business by saying that he had bought off his wine empire particularly so he may lastly SELF PRODUCE “Megalopolis.” When it was all stated and carried out, Francis spent $120 million OF HIS OWN MONEY to make the film. After which it solely made $14 million on the field workplace 🙁
You may assume {that a} director with 5 Academy Awards and one of the vital adorned movie careers in historical past may soak up that type of loss. A number of of Francis’ contemporaries may write that loss off with out breaking a sweat. For instance, George Lucas and Steven Spielberg are actually the 2 richest celebrities on this planet, with respective internet worths of $9 billion and $10 billion. Sadly, Francis Ford Coppola couldn’t.
Two weeks in the past, we revealed to the world that he was “broke” and subsequently had determined to public sale his prized watch assortment to lift money. The public sale, which can happen in December, will embody a one-of-a-kind $1 million F.P. Journe timepiece he personally helped design, amongst different spectacular timepieces.
At the moment, it was revealed that Francis has parted with one other beloved asset: his non-public island retreat in Belize.
Coral Caye
Often known as Coral Caye, the two.5-acre island served as considered one of Coppola’s private sanctuaries for practically a decade. Positioned 25 minutes by boat from Placencia, the island was completely self-sufficient, powered by photo voltaic panels and freshwater tanks, and featured three dwellings — the Nice Home, Coral Cottage, and Seahorse Cottage.
Francis listed the island on the market in October 2022, a month after Megalopolis was launched. His preliminary asking worth was $2.2 million. He simply accepted $1.8 million.
“Mr. Coppola was very unhappy to see his lease come to an finish,” agent Peter McLean advised Mansion World. “He treasured his time on this island paradise. It was a particular place for him.“
The customer reportedly is a Guatemalan businessman who plans to rework Coral Caye right into a Maldives-style resort with visitor villas each on land and over the encircling coral reef. Development is predicted to take a couple of 12 months, although the island will proceed to function as a boutique resort within the meantime. Coppola, who constructed the unique cottages and dock, even left behind one beloved resident: his canine Rosie, who will stay on the island as its unofficial mascot.
Even after shedding the Belize island, Francis Ford Coppola nonetheless owns and operates a number of different properties beneath The Household Coppola Hideaways model. So far as we will inform, his portfolio nonetheless consists of the next resorts, although, maybe these are subsequent up on the public sale block:
- Blancaneaux Lodge – A 20-room luxurious eco-resort within the Mountain Pine Ridge Forest Reserve, Belize.
- Turtle Inn – A beachfront resort in Placencia, Belize (roughly 25 minutes by boat from Coral Caye).
- La Lancha – A lakeside retreat close to Tikal, Guatemala.
- Palazzo Margherita – A boutique lodge in Bernalda, Italy (his grandfather’s hometown).
The sale of Coral Caye marks the most recent chapter in a well-recognized sample for Francis Ford Coppola — the artist who has constructed and misplaced fortunes in pursuit of his imaginative and prescient. Over a 60-year profession, he has mortgaged houses, bought vineyards, and now auctioned watches and islands to maintain chasing his desires. Even in monetary freefall, Coppola appears incapable of enjoying it protected. Then once more, they would not be “ardour initiatives” with out the type of ardour that blinds you to widespread sense.
