After bearing witness to the atrocities of a ruthless regime in the Middle Eastern nation of Turgistan, an unnamed American billionaire and philanthropist—who made his fortune inventing neodymium magnets—decides to fake his own death. This bold move allows him to form an anonymous vigilante squad, targeting criminals and terrorists that governments refuse to confront.
The neodymium magnets, tiny yet powerful, can be manipulated with electronic devices, turning them into dangerous weapons. Realizing that his wealth alone cannot address the world's deep-rooted issues, he takes matters into his own hands. Now known as "One" (Ryan Reynolds), he enlists five other individuals to leave their pasts behind and join his cause as the "Ghosts."
These recruits include "Two" (Mélanie Laurent), a skilled spy; "Three" (Manuel Garcia-Rulfo), a deadly hitman with a dark history as a Colombian assassin; "Four" (Ben Hardy), a resourceful Parkour runner and thief; "Five" (Adria Arjona), a compassionate doctor; and "Six" (Dave Franco), a talented driver. Hidden away in a decommissioned plane in the California desert, One stores their past records, using this makeshift location as their base of operations.
One establishes several important rules: never share real names and always leave the laggards behind. Their first mission takes them to the enchanting streets of Florence, Italy, where they target the lawyer of Turgistan’s four generals. This lawyer has been covering for the regime's monstrous activities by denying any involved atrocities. However, their escape is chaotic, resulting in the team being pursued by both the Mafia and the police, ultimately leading to the tragic death of Six during their getaway.
In the days that follow, One enlists Blaine (now "Seven," Corey Hawkins), a former Delta Force sniper haunted by his past failures. He recognizes this moment as a chance to redeem himself by battling significant global threats. Like the others, Blaine also decides to fake his own death to become a Ghost.
With a daring plan in place, One intends to stage a coup against Turgistan's dictator, Rovach Alimov (Lior Raz), and install his imprisoned brother, Murat ([Peyman Moaadi]), as the new leader. One’s unveiling of the horrific conditions faced by the people of Turgistan during a PR tour brings him face to face with the consequences of Rovach's brutal rule, which has turned a million citizens into desperate refugees, many sheltered in camps near the border.
The team's experiences in Italy lead them to obtain the lawyer’s phone, allowing them to access vital communications and travel plans belonging to Rovach’s generals. As they track the generals to Las Vegas for an arms deal involving Sarin gas, they carry out a successful assassination mission. They gather intelligence revealing Murat's location in Hong Kong, where Murat boldly claims that the throne rightfully belongs to the people—an act that only serves to increase his popularity among the populace.
In Hong Kong, an intense operation unfolds as the team extracts Murat from the Ni Hai tower. However, during the rescue, Four is cornered by hired killers, prompting Seven to insist on saving him—against One's strict guidelines. This act of camaraderie leads to a heated argument, breaking the Ghosts’ code of anonymity as they reveal their real names to one another. Tensions flare further when One discovers a romantic involvement between Two and Three.
As the situation in Turgistan escalates, One carries out a high-stakes plan by hacking into the state-run television system to give Murat a platform to speak out against Rovach. His compelling speech incites a revolution, while controlled explosions force Rovach to flee to his yacht. The Ghosts ingeniously disable the yacht's guards, only to have Rovach escape via helicopter—only to find that Murat and the Ghosts are in control.
In the aftermath of this upheaval, Murat ascends to the presidency of Turgistan, and the Ghosts disband, agreeing to reunite if the need arises again. Meanwhile, One, now contemplating his legacy, heads to New York City to meet his illegitimate son, preparing to pass on his fortune should fate intervene during his next mission.
