Despite being the highest-grossing movie of 1963, Cleopatra (Elizabeth Taylor) lost so much money for 20th Century Fox and forced the studio to sell 300 acres of its backlot, which became modern-day Century City (in Los Angeles, California).

Title: Cleopatra (1963): How 20th Century Fox’s Costly Blockbuster Forced the Birth of Century City

Meta Description: Discover the shocking story of Cleopatra (1963), Elizabeth Taylor’s legendary epic that bankrupted 20th Century Fox and led to the sale of its iconic backlot — now Los Angeles’ Century City.

Cleopatra (1963): Hollywood’s Most Expensive Mistake & the Birth of Century City

In 1963, Cleopatra, starring Elizabeth Taylor, Rex Harrison, and Richard Burton, made history as the highest-grossing film of the year. Yet behind the glitz of its record-breaking box office, the movie nearly destroyed its studio, 20th Century Fox, triggering one of Hollywood’s most infamous financial disasters. The fallout was so catastrophic that Fox sold 300 acres of its backlot to survive — land that would become modern-day Century City, a gleaming Los Angeles business district.

Here’s the untold story of how Cleopatra lost millions despite its success, reshaped Hollywood accounting, and permanently altered LA’s skyline.

Cleopatra’s Astronomical Budget: A Recipe for Disaster

When Cleopatra began filming in 1960, Fox envisioned a modest $2 million historical drama. But the project quickly spiraled into chaos:

• Director Shakeups: Original director Rouben Mamoulian quit, replaced by Joseph L. Mankiewicz (All About Eve).
• Elizabeth Taylor’s Turbulence: The star demanded an unprecedented $1 million salary (over $10 million today), fell severely ill midway through filming in London, and forced relocation to Rome.
• Cost Overruns: Lavish sets (including a life-size Roman Forum), 26,000 costumes, and delays ballooned costs to $44 million — equivalent to $440 million in 2024 dollars.

After three years of setbacks, Cleopatra became the most expensive movie ever made at the time, with Fox mortgaging its future to finish it.

Box Office “Success” That Bankrupted a Studio

Despite grossing $57 million worldwide ($570 million today), Cleopatra hemorrhaged money due to:

• Sky-Hidden Expenses: Marketing and distribution costs devoured 50% of gross earnings.
• The Burton-Taylor Scandal: While Taylor and Burton’s off-screen affair fueled tabloid buzz, their reputations alienated conservative audiences and sponsors.
• Audience Fatigue: At 4+ hours, the theatrical cut tested viewers’ patience, with many calling it “overblown.”

Ultimately, the studio lost $30–40 million (adjusted for inflation), pushing 20th Century Fox to the brink of bankruptcy. The film wouldn’t turn a profit until its TV rerelease decades later.

The Birth of Century City: Fox’s Desperate Survival Move

To recoup losses, Fox sold 263 acres (later 300) of its iconic backlot in Los Angeles in 1961–1963. The land, once home to sets for classics like The Sound of Music and How Green Was My Valley, was transformed into Century City — now a bustling commercial hub with skyscrapers, luxury condos, and corporate HQs.

Why Century City Matters:

• A Hollywood Exodus: The sale marked the end of Golden Age studio land dominance.
• LA’s Evolution: Developers Alcoa and Webb & Knapp turned the lot into a “city of the future,” shaping LA’s modern urban identity.
• Fox’s Humiliation: The studio retained just 80 acres (now the Fox Studio Lot), a bitter reminder of Cleopatra’s toll.

Legacy: Lessons from Hollywood’s Biggest Gamble

Cleopatra reshaped the film industry forever:
✅ The Death of the Epic: Studios avoided colossal historical dramas for years.
✅ Star Power Limits: Taylor’s salary set records, but studios later capped actor pay.
✅ Production Insurance: Fox’s losses popularized “completion bonds” to protect big-budget films.

Ironically, Cleopatra is now hailed as a cult masterpiece — its decadence mirroring the extravagance it depicted. Today, Century City stands as a monument to the film’s financial ruin and Hollywood’s resilience.

Visit the Land That Cleopatra Built

Next time you’re in Century City, remember: those glass towers rose from the ashes of Elizabeth Taylor’s ambition. The former Fox backlot — bounded by Beverly Hills and Westwood — hosts landmarks like:

• 🌆 Century Plaza Hotel (a ’60s modernist icon)
• 🏙 Fox Plaza (the “Die Hard Tower”)
• 🎥 The 20th Century Fox Studio Lot, a surviving sliver of old Hollywood.

Cleopatra may have broken a studio, but its legacy lives on — both onscreen and in the heart of Los Angeles.

Keywords: Cleopatra 1963 budget, Elizabeth Taylor Cleopatra, 20th Century Fox bankruptcy, Century City backlot, most expensive movies, Hollywood financial disasters, Los Angeles history.

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