"Broke" Francis Ford Coppola Sells One Of His Belize Island Retreats to Stem $100+ Million "Megalopolis" Loss

Two years ago, Francis Ford Coppola released one of the most ambitious movies in recent memory. Powered by an all-star cast that included Adam Driver, Shia LaBeouf, Aubrey Plaza, Dustin Hoffman, and Laurence Fishburne, "Megalopolis" was a sprawling sci-fi epic about a visionary architect who tries to rebuild New York City after a catastrophic collapse. It was a film that Coppola first dreamed up in the late 1970s — a grand statement about civilization, power, and hope. He nearly made it in 1989, then again in the early 2000s, but each attempt collapsed under the weight of its scope and cost.

Disillusioned by the studio system and bruised by several box office disappointments, Coppola shelved the project and turned his focus elsewhere. Over the next two decades, he built one of the most successful independent empires in Hollywood. His Napa Valley wines became a household name, his resorts in Central America and Italy drew travelers from around the world, and he seemed to have finally achieved the balance between art and business that had eluded him for decades.

Then, in 2022, Coppola shocked the film industry by announcing that he had sold off his wine empire specifically so he could finally SELF PRODUCE "Megalopolis." When it was all said and done, Francis spent $120 million OF HIS OWN MONEY to make the movie. And then it only made $14 million at the box office 🙁

You might assume that a director with five Academy Awards and one of the most decorated film careers in history could absorb that kind of loss. Several of Francis' contemporaries could write that loss off without breaking a sweat. For example, George Lucas and Steven Spielberg are literally the two richest celebrities in the world, with respective net worths of $9 billion and $10 billion. Unfortunately, Francis Ford Coppola could not.

Two weeks ago, we revealed to the world that he was "broke" and therefore had decided to auction his prized watch collection to raise cash. The auction, which will take place in December, will include a one-of-a-kind $1 million F.P. Journe timepiece he personally helped design, among other impressive timepieces.

Today, it was revealed that Francis has parted with another beloved asset: his private island retreat in Belize.

Coral Caye

Known as Coral Caye, the 2.5-acre island served as one of Coppola's personal sanctuaries for nearly a decade. Located 25 minutes by boat from Placencia, the island was entirely self-sufficient, powered by solar panels and freshwater tanks, and featured three dwellings — the Great House, Coral Cottage, and Seahorse Cottage.

Francis listed the island for sale in October 2022, a month after Megalopolis was released. His initial asking price was $2.2 million. He just accepted $1.8 million.

"Mr. Coppola was very sad to see his lease come to an end," agent Peter McLean told Mansion Global. "He treasured his time on this island paradise. It was a special place for him."

The buyer reportedly is a Guatemalan businessman who plans to transform Coral Caye into a Maldives-style resort with guest villas both on land and over the surrounding coral reef. Construction is expected to take about a year, though the island will continue to operate as a boutique resort in the meantime. Coppola, who built the original cottages and dock, even left behind one beloved resident: his dog Rosie, who will remain on the island as its unofficial mascot.

Even after losing the Belize island, Francis Ford Coppola still owns and operates several other properties under The Family Coppola Hideaways brand. As far as we can tell, his portfolio still includes the following resorts, though, perhaps these are next up on the auction block:

• Blancaneaux Lodge – A 20-room luxury eco-resort in 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 near Tikal, Guatemala.
• Palazzo Margherita – A boutique hotel in Bernalda, Italy (his grandfather's hometown).

The sale of Coral Caye marks the latest chapter in a familiar pattern for Francis Ford Coppola — the artist who has built and lost fortunes in pursuit of his vision. Over a 60-year career, he has mortgaged homes, sold vineyards, and now auctioned watches and islands to keep chasing his dreams. Even in financial freefall, Coppola seems incapable of playing it safe. Then again, they wouldn't be "passion projects" without the kind of passion that blinds you to common sense.