1967–1979: Stardom and acclaim
At age 30, Beatty produced and acted in Bonnie and Clyde, released in 1967. He assembled a team that included the writers Robert Benton and David Newman, and the director Arthur Penn. Beatty selected most of the cast, including Faye Dunaway, Gene Hackman, Estelle Parsons, Gene Wilder and Michael J. Pollard. Beatty also oversaw the script and spearheaded the delivery of the film. Beatty chose Gene Hackman because he had acted with him in Lilith in 1964 and felt he was a "great" actor. Upon completion of the film, he credited Hackman with giving the "most authentic performance in the movie, so textured and so moving", recalls Dunaway. Beatty had been so impressed by Gene Wilder after seeing him in a play, that he cast him without an audition for what became Wilder's screen debut. Beatty already knew Pollard: "Michael J. Pollard was one of my oldest friends", Beatty said. "I'd known him forever; I met him the day I got my first television show. We did a play together on Broadway."
Bonnie and Clyde became a critical and commercial success, despite the early misgivings by studio head Jack Warner who put up the production money. Before filming began, Warner said, "What does Warren Beatty think he's doing? How did he ever get us into this thing? This gangster stuff went out with Cagney." The film was nominated for ten Academy Awards, including Best Picture and Best Actor, and seven Golden Globe Awards, including Best Picture and Best Actor. Beatty was originally entitled to 40% of the film's profits but gave 10% to Penn, and his 30% share earned him more than US$6 million. After Bonnie and Clyde, Beatty acted with Elizabeth Taylor in The Only Game in Town (1970), directed by George Stevens; McCabe & Mrs. Miller (1971), directed by Robert Altman; and Dollars (1971), directed by Richard Brooks.
In 1972, Beatty produced a series of benefit concerts to help with publicity and fundraising in the George McGovern 1972 presidential campaign. Beatty first put together Four for McGovern at The Forum in the Los Angeles area, convincing Barbra Streisand, Carole King and James Taylor to perform. Streisand brought Quincy Jones and his Orchestra, and recorded the album Live Concert at the Forum. Two weeks later, Beatty mounted another concert at the Cleveland Arena, in which Joni Mitchell and Paul Simon joined James Taylor. In June 1972, Beatty produced Together for McGovern at Madison Square Garden, reuniting Simon and Garfunkel, Nichols and May, and Peter, Paul and Mary, and featuring Dionne Warwick. With these productions, campaign manager Gary Hart said that Beatty had "invented the political concert". He had mobilized Hollywood celebrities for a political cause on a scale previously unseen, creating a new power dynamic.
Beatty appeared in the films The Parallax View (1974), directed by Alan Pakula; and The Fortune (1975), directed by Mike Nichols. Taking greater control, Beatty produced, co-wrote and acted in Shampoo (1975), directed by Hal Ashby, which was nominated for four Academy Awards, including Best Original Screenplay, as well as five Golden Globe Awards, including Best Motion Picture and Best Actor.
In 1978, Beatty directed, produced, wrote and acted in Heaven Can Wait (1978) (sharing co-directing credit with Buck Henry). The film was nominated for nine Academy Awards, including Best Picture, Director, Actor, and Adapted Screenplay. It also won three Golden Globe Awards, including Best Motion Picture and Best Actor.