In his new headquarters behind the famous Hollywood sign, Dr. Evil plans to travel back in time to 1975 and bring back Johan van der Smut, aka "Goldmember", who developed a cold fusion unit for a tractor beam which Dr. Evil names "Preparation H". He intends to use the tractor beam to pull a meteor into the Earth, striking the polar ice caps and causing a global flood. Moments after this plan is revealed, Austin Powers and the British Secret Service attack the base and arrest Dr. Evil. Austin is knighted for his services, but is disappointed when his father, the famous super-spy Nigel Powers, does not attend the event. Basil Exposition later informs Austin that Nigel has been kidnapped, and the only clue is that the crew of his yacht have had their genitalia painted gold.
Austin visits the imprisoned Dr. Evil, who tells him that Goldmember is behind the abduction. Time-travelling to 1975, Austin infiltrates Goldmember's roller disco club and is reunited with his former lover, FBI agent Foxxy Cleopatra, who is undercover as a disco singer. With Foxxy's help, Austin locates his father, but is unable to rescue him. Goldmember takes Nigel through Dr. Evil's time machine into the present day. Foxxy wants revenge on Goldmember for murdering her partner, and accompanies Austin in his pursuit. In the present, Dr. Evil and Mini-Me instigate a riot in their prison, allowing them to escape. A British Intelligence mole named Number 3 informs Austin that Dr. Evil has moved to a new lair near Tokyo. Austin and Foxxy travel to Tokyo and confront Fat Bastard, who is now a sumo wrestler, but still does work for Dr. Evil. Fat Bastard explains that a Japanese business man, Mr. Roboto, is working on a device for Dr. Evil and Goldmember.
Austin and Foxxy later meet with Mr. Roboto, who pleads ignorance about Nigel's whereabouts. Unconvinced, Austin and Foxxy infiltrate Roboto's factory where the command unit for the tractor beam is being loaded in Goldmember's car, and Roboto hands Goldmember a golden key needed to activate the beam. Foxxy confronts Goldmember while Austin attempts to free Nigel, but Goldmember escapes with the command unit and flees to Dr. Evil's submarine. Unable to settle their differences, Nigel and Austin part ways when they disagree on how to deal with the situation. Meanwhile, Dr. Evil's son, Scott Evil, has become increasingly evil in an attempt to prove himself to his father, to the point that he too is going bald. Scott presents his father with sharks with laser beams attached to their heads, a request that had gone unfulfilled in the first film. Dr. Evil replaces Mini-Me with Scott as his favored son; the rejected Mini-Me defects and joins Austin.
Austin, Foxxy and Mini-Me infiltrate the submarine, but Austin is captured. Dr. Evil prepares to activate the tractor beam, but Foxxy has stolen the key and frees Austin. Austin prepares to shoot Dr. Evil, when Nigel appears and reveals Dr. Evil and Austin are brothers, separated when they were toddlers when an assassination attempt killed their mother, and Dr. Evil was found and raised by Belgians. Dr. Evil and Austin embrace, enraging Scott, who flees to pursue his own vengeance, whilst Goldmember commandeers the tractor beam's controls, unzipping his pants to reveal his gold-covered genitals to be a spare key. Goldmember activates the tractor beam, but Austin and Dr. Evil work together to reverse its polarity, destroying the meteor and saving the world. The heroes arrest Goldmember, who turns to the camera to reveal the entire string of events was adapted into a film by Steven Spielberg, starring Tom Cruise as Austin, Kevin Spacey as Dr. Evil, Danny DeVito as Mini-Me, and John Travolta as Goldmember. Austin, Foxxy, Dr. Evil, Mini-Me and Nigel are in the audience of a Hollywood theater watching the film. Upon exiting the theater they run into Fat Bastard, now thinner but flabby, thanks to the Subway diet. As Austin and Foxxy kiss, in Dr. Evil's Hollywood lair, Scott – now completely bald, dressed like and laughing in a manner similar to his father — declares he will get his revenge on Austin and begins dancing like Michael Jackson.
The title of the film, Goldmember, led to legal action being taken by MGM, the distributors of the James Bond film franchise, that briefly led to the film's title being removed from promotional material and trailers. The dispute was quickly resolved and the film title remained unchanged on the provision that the film would include trailers in its cinema releases for the then-upcoming James Bond film, Die Another Day, and The Lord of the Rings: The Two Towers.
Austin Powers (Myers), having conquered the '90s and the '60s, travels back to the 1970s and teams up with his nemesis Dr. Evil (also played by Myers) to thwart a new villain, Goldmember (Myers once again). Myers also plays Fat Bastard for the second time, this time parodying the kind of "wire fight" seen in Crouching Tiger, Hidden Dragon. The film also stars Beyoncé Knowles as Foxxy Cleopatra (parodying blaxploitation heroines, primarily Foxy Brown and Cleopatra Jones, as well as Christie Love when she says, "You're under arrest, sugah!" ), Michael York, reprising the role of Basil Exposition, and Verne Troyer in his second appearance as Mini-Me. The film also introduced a new character named Number 3 (a.k.a. the Mole), who is portrayed by former child star Fred Savage. Clint Howard plays a radar operator in all three films. Michael Caine guest stars as Austin's father, Nigel; this role was inspired by The Ipcress File, a 1965 film starring Caine.
Four actors who appeared in the earlier films play different characters in Goldmember. Rob Lowe, who played the friend of a dead guard in International Man of Mystery, reprises his role as a younger Number 2 from The Spy Who Shagged Me, while Neil Mullarkey (quartermaster clerk in International Man of Mystery) and Eric Winzenried (army private soldier in The Spy Who Shagged Me) appear as the Physician and Henchman Sailor in the Sick Bay. Michael McDonald (the Virtucon guard who got run over by a steamroller in "International Man of Mystery" and a NATO soldier in "The Spy Who Shagged Me") appears as the royal guard.
Johan van der Smut, better known as Goldmember, is a fictional villain played by Myers (John Travolta plays the character in a cameo at the end of the film). The name was inspired by the James Bond villain Auric Goldfinger. Goldmember's Dutch origins and character traits were, according to Myers, inspired by an episode of the HBO TV series Real Sex featuring a Dutchman who operated a "sex barn" north of Rotterdam. The man's distinct forms of expression caught Myers' attention while he was writing.
Austin Powers in Goldmember took in £5,585,978 in the United Kingdom on its opening weekend. In the United States, it broke the opening weekend record for a spoof movie, surpassing the previous Austin Powers film. The film grossed US$73 million on its opening weekend, and grossed a total of $213 million in the United States, according to Box Office Mojo.
Austin Powers in Goldmember was released on video and DVD on December 3, 2002.
On Rotten Tomatoes, the film received a rating of 54%, based on 183 reviews, with the site's critical consensus reading, "While the narrative structure is messy and doesn't make much sense, the third installment of the Austin Powers franchise contains enough inspired bits to entertain". On Metacritic, the film has a score of 62 out of 100, based on 34 critics, indicating "generally favorable reviews".
Myers was nominated for the MTV Movie Award for Best Villain for the third time, but lost against Daveigh Chase for her role as Samara Morgan in The Ring, making it the first time Myers lost the award. However, he did win the award for Best Comedic Performance, making it the first time he won the award, having previously lost twice for the first two films.
The song "Hey Goldmember" interpolates and is a parody of four '70s disco songs formed into a medley; "Sing a Song" by Earth, Wind & Fire, "Get Down Tonight", "(Shake, Shake, Shake) Shake Your Booty", and "That's the Way (I Like It)", all by KC and the Sunshine Band.
"Sing a Song" is not listed in the credits but is sung by Beyoncé at the beginning.
- "Work It Out" – Beyoncé
- "Miss You" (Dr. Dre Remix 2002) – The Rolling Stones
- "Boys" (Co-Ed Remix) – Britney Spears (feat. Pharrell of N*E*R*D)
- "Groove Me" – Angie Stone
- "What Do You Want" - Devin
- "Shining Star" – Earth, Wind & Fire
- "Hey Goldmember" – Beyoncé (feat. Devin and Solange)
- "Ain't No Mystery" – Smash Mouth
- "Evil Woman" – Soul Hooligan (feat. Diana King)
- "1975" – Paul Oakenfold (which samples "A Fifth of Beethoven" by Walter Murphy)
- "Hard Knock Life (Ghetto Anthem)" (Dr. Evil Remix) – Dr. Evil
- "Daddy Wasn't There" – Ming Tea (feat. Austin Powers)
- "Alfie (What's It All About, Austin?)" – Susanna Hoffs
- "Soul Bossa Nova" – Quincy Jones
- "Incense and Peppermints" - Strawberry Alarm Clock
- "Summer Samba" - Marcos Valle
In October 2005, in an interview with Entertainment Weekly, Mike Myers discussed the possibility of studio sources moving forward with a fourth film. "There is hope!". "We're all circling and talking to each other. I miss doing the characters." In May 2007, in an interview with IGN, "So no more Austin Powers?" was asked, and Myers replied, "No, no, there is a fully conceived idea for a fourth and I can just say that it's from Dr. Evil's point of view. So if you balanced how much of it was Austin with Dr. Evil, it's more about Dr. Evil than Austin". Also, in the audio commentary from the DVD release of Goldmember, Myers revealed that in the fourth film, Fat Bastard would return and regain the weight that he lost in Goldmember.
In May 2007, at the Shrek the Third première, Mike Myers announced that a fourth Austin Powers film was planned, but that it would focus more on Dr. Evil rather than Austin. He also said that he'd start work on it after he started work on The Love Guru, which became a box office bomb. In February 2008, it was announced that Jay Roach would return as director. In April 2008, it was reported that Gisele Bündchen had been offered a role in the film. However, Seth Green, who played Scott Evil, state that there was any script at the moment and that Austin Powers 4 would be made if a script is written and approved. In June 2008, in an interview, when asked about another Austin Powers film, Myers stated, "I have an idea, and again it's one of those things that will emerge or it won't." In July 2008, Mike Myers stated that he had begun writing Austin Powers 4, and that the plot is "really about Dr. Evil and his son."
In March 2010, Jay Roach indicated to MTV that Myers is working on ideas for a fourth film. In August 2011, Mike Myers revealed he would return, and had begun writing a script for a fourth installment. In September 2013, when asked about the future of Austin Powers, Myers answered "I'm still figuring that out." In September 2015, Verne Troyer expressed his desire to return as Mini-Me if he was asked to do so.
On May 20, 2016, Roach was asked about the fourth Austin Powers film during an interview with Larry King, and he stated the ideas for the fourth film that he and Myers have are good and interesting. In August 2016, in a telephone interview, Mike Myers stated "Everything is being negotiated and worked out and all that stuff" in regards to the fourth installment of the Austin Powers film series.
In April 2017, as the twentieth anniversary approached for Austin Powers: International Man of Mystery, Mike Myers claimed he would love to do another Austin Powers film, but you would just have to see. Two days later, Roach stated that a fourth film would only occur if Myers creates a good story for it. On May 26, 2017, Troyer stated that Mini-Me will reveal that he can speak in the fourth movie.