In 1920s New York City, W. C. Fields is a successful headlining entertainer, but when his girlfriend leaves him and his broker loses his money, Fields begins anew in California. Working at a wax museum, Fields eventually lands a film role that ascends him to stardom. Back in the limelight and palling around with John Barrymore and the like, Fields meets an aspiring actress Carlotta Monti at a party, with whom he forms a rocky relationship.

Dans les années 20, au sommet de sa gloire, l'acteur W.C Fields se retrouve ruiné et licencié à cause de son mauvais caractère. Il part pour Hollywood se refaire une seconde chance, mais gâchera tout en s'adonnant à l'alcool...