Elvis Presley stars as Scott Heyward, a millionaire playboy who decides that he doesn't need his father's money to succeed. He trades identities with a young man named Tom Wilson and gets a job as a water-ski instructor in a posh Miami Beach resort. While Tom enjoys all the perks of wealth, the real millionaire signs up for the Orange Bowl Regatta and tries to win over a lovely young lass by the name of Dianne. But Dianne is out to marry rich, and has no interest in the "poor" racer. So Scott sets out to make her fall for him before she finds out that he's loaded.