In 1985, aspiring stockbroker Bud Fox (Charlie Sheen) is determined to climb the corporate ladder at Jackson Steinem & Co. He aspires to connect with his idol, the infamous corporate raider Gordon Gekko (Michael Douglas), a cunning and brutal figure on Wall Street. Their values stand in stark contrast; while Bud's father, Carl Fox, represents the old-school work ethic as a blue-collar maintenance foreman and union leader at Bluestar Airlines, Gekko embodies a worldview where success is measured by wealth accumulated through speculation.
On Gekko's birthday, Bud boldly seeks an audience with him to present stock pitches, but his efforts are met with disappointment as Gekko shows little interest. In a desperate attempt to win Gekko over, Bud divulges insider information regarding Bluestar that he overheard from his father. Gekko considers the tip, and soon after, he begins trading Bluestar stock while enlisting Bud's services. However, Bud's initial cautious investments lead to losses, prompting Gekko to take Bud under his wing, guiding him toward extracting information by any means necessary.
As Bud delves deeper into Gekko's world, he is tasked to spy on British tycoon Sir Lawrence Wildman ([Terence Stamp]) to learn about his upcoming corporate maneuvers. By leveraging this information, Gekko profits immensely, forcing Wildman to acquire Gekko’s shares to complete a takeover bid for a steel company.
With newfound wealth, Bud revels in Gekko's lavish lifestyle, moving into a luxurious penthouse and dating the glamorous interior decorator Darien ([Daryl Hannah]). His success at trading earns him a significant promotion and a coveted office view, but unbeknownst to him, his actions are drawing the scrutiny of the Securities and Exchange Commission.
Bud proposes a bold plan to acquire Bluestar Airlines using union funds and intends to rise to the presidency. He persuades Carl to back him, despite his father's disdain for Gekko. Everything turns upside down when Bud discovers Gekko's true intentions—he plans to dismantle Bluestar and pocket the assets from its over-funded pension plan, which would mean layoffs for Carl and the entire workforce. Guilt-ridden over the betrayal, especially after Carl suffers a heart attack, Bud chooses to defy Gekko, opting to save Bluestar over personal gain.
Determined to fight back, he devises a scheme to artificially inflate Bluestar's stock before bringing it down again. He collaborates secretly with union leaders and Wildman to sell shares at a discounted price. As Gekko's investments falter, he is blindsided by the news of Wildman's strategic buyout.
When Bud returns to work, his triumph is short-lived; he is arrested for insider trading by the SEC. In a tense confrontation with Gekko in Central Park, Bud faces harsh criticism for his part in the fallout. However, that exchange serves a greater purpose—recording Gekko incriminating himself. Bud hands over the tapes to the authorities, hoping for leniency in exchange for his cooperation against Gekko.
Eventually, as Bud's parents drive him to court, Carl expresses pride in Bud's decision to protect the airline, even as the prospect of prison looms ahead. The film culminates with Bud's ascent up the courthouse steps, prepared to uphold justice for his actions, yet relieved to have a clear conscience after standing against corruption.
