In this sophomoric comedy, an immature twenty-something party animal must take over his father's multi-million dollar hotel business after his father retires, but first he must return to school. Billy Madison loves to drink beer, hang with his friends and play childish pranks. However, his father's retirement is forcing him to grow up. The filthy rich heir has never been ambitious; in fact, he bribed his way through school. To gain control of his father's company, the child-like Billy must cram 12 years of learning into 24 weeks. If he fails, the company reigns will be passed to his father's slimy aide. Naturally the aide wants Billy to fail and engineers many insidious plots.