Montgomery "Monty" Brewster, portrayed by Richard Pryor, is a rather unremarkable pitcher for the Hackensack Bulls, a minor league baseball team. Following a victorious game, Monty and his close friend, Spike Nolan, played by John Candy, find themselves mingling with two women at a local bar. Their playful flirtation quickly takes a turn when they are confronted by the women's supposed husbands, leading to a chaotic bar brawl. After the dust settles, they wind up behind bars, facing the wrath of their coach, Jerry Orbach, who informs them of their expulsion from the team.
In court, Monty's attempt to explain the incident falls flat as the judge remains unimpressed. However, a photographer named J.B. Donaldo, played by Joe Grifasi, offers to bail them out in exchange for a guilty plea. This unexpected twist takes Monty and Spike to New York City, where they learn about Monty's recently deceased great-uncle, Rupert Horn, portrayed by Hume Cronyn. Monty discovers that he has inherited a staggering fortune with a twist: he must spend $30 million in just 30 days to secure the full $300 million inheritance. The eccentric will dictates strict rules that Monty must adhere to, including keeping the terms secret and only buying tangible items that do not appreciate in value.
Faced with this unique challenge, Monty is torn between taking a guaranteed $1 million payout or diving into the whirlwind of extravagant spending. Ultimately, he bravely opts for the challenge, setting off on a spending spree that sees him attempt everything from renting luxurious penthouses to launching a lavish election campaign with the cheeky slogan "None of the Above."
As Monty splurges on various ventures, he meets the alluring accountant Angela Drake, played by Lonette McKee, who initially rebuffs his advances due to her engagement to Stephen Collins. Throughout his month-long quest, Monty grapples with the consequences of his spending, including reckless financial decisions and a tumultuous romantic entanglement with Angela as he navigates the dangers of fame and fortune.
Each extravagant move raises the ire of the law firm overseeing his inheritance—Granville & Baxter—who conspire to sabotage his efforts. Meanwhile, Monty's friends grow concerned about his reckless spending habits, trying to steer him back to sanity. With the end date looming, Monty realizes he’s back at square one, leading to a dramatic decision to enter the mayoral race, utilizing his inherited wealth to buy votes. As the election unfolds, Monty’s antics create uproarious chaos, leading to unexpected legal battles and a countdown to a pivotal deadline.
In a heart-stopping finale, Monty scrambles to fulfill the terms of his inheritance just in time, confronting the manipulative elements around him, including Warren, Angela's fiancée. A last-minute twist sees Monty not only claim his rightful fortune but also find love in the process, culminating in a delightful resolution that solidifies his journey from a beleaguered baseball player to an unexpected millionaire with a second chance at life.
