In 1932, Goetz received the financial support necessary from his new father-in-law, Louis B. Mayer, to become a minor partner with Joseph Schenck, the former president of United Artists, and Darryl F. Zanuck from Warner Bros. to create Twentieth Century Pictures.

In 1949, Goetz called upon his close friendship with MCA head Lew Wasserman, one of the more powerful agents in Hollywood.

In lieu of a salary for his performance, Stewart was guaranteed half of the film's profits, and the concept was negotiated for other stars who recognized the value of their own box-office drawing power.

He signed a six-picture deal with Columbia Pictures and produced Me and the Colonel, They Came to Cordura, The Mountain Road, Song Without End and Cry for Happy.

[9][10] Goetz was a liberal Democrat and enthusiastically campaigned for Adlai Stevenson II in the 1952 presidential election.

Goetz and his wife also were major investors in art, acquiring a significant collection of Impressionist and Post-Impressionist works.

They owned paintings and sculptures by artists such as Edgar Degas, Paul Gauguin, Claude Monet, Paul Cézanne, Berthe Morisot, Édouard Manet, Pierre-Auguste Renoir, Pablo Picasso, Amedeo Modigliani, Chaïm Soutine, Pierre Bonnard, Jean-Baptiste-Camille Corot, and Henri Fantin-Latour.

In 1949, a controversy erupted over a Vincent van Gogh self-portrait titled Study by Candlelight that Goetz had purchased two years earlier.

[13][14] On August 15, 1969, Goetz died of cancer at his Holmby Hills, Los Angeles home at the age of 66.