ACT 1
King Lear explains that he plans to divide his kingdom among his three daughters. His challenge to his daughters - Goneril, Regan and Cordelia - is that his division of the kingdom will depend on which princess has the best declaration of love for him. Goneril and Regan go first and each praise King Lear as a leader and a father. They each get a third of the kingdom.
When it is Cordelia's time to speak, she says nothing, claiming that her love for her father is too deep and cannot be expressed. King Lear, interpreting this as an insult, disowns her. He calls in her two suitors - the Duke of Burgundy and the King of France - and tells them that she no longer has a dowry, nor any claim to his kingdom. The Duke of Burgundy leaves, but the King of France marries Cordelia, and the couple leaves to return to France.
Edmund, who has been watching all these events unfurl, tells the audience of his determination to claim his rightful place as a true son of Gloucester. He deceives his father by pretending to receive a letter from his brother Edgar containing a proposal to kill their father and share his power. Gloucester is upset and tells Edmund to find Edgar so they can ask him about the letter.
King Lear and his train of courtiers and advisors have been staying with Goneril at her castle in Albany. Goneril has grown tired of his raucous company and tells her attendants, like Oswald, not to take orders from Lear or his followers. Following Goneril's orders, Oswald repeatedly disrespects Lear and his company.
The Earl of Kent appears again, this time disguised. His mission is to serve King Lear as a moral advisor and friend, even though he has been banished. He earns the trust of Lear and his company by fighting Oswald for disrespecting the King. Lear and company are also joined by his Lear's Fool. The Fool tells Lear that by giving the kingdom away to his daughters, he has already lost all his power.
After Oswald tattles to Goneril, she confronts King Lear. She complains that his company of men have made her castle and court disorderly. Lear becomes enraged and curses her before leaving to go stay with Regan instead. Goneril decides to send a message to her sister, warning her of his unexpected arrival before he arrives.
Lear sends the disguised Kent as a messenger to inform Regan of his coming arrival. While Lear's men get ready to leave for Cornwall, Lear talks with his Fool. The Fool once again warns that since Lear has given up his kingdom, throne and power too early, he is now at the mercy of his daughters. Lear fears he is losing his mind in his old age.
ACT 2
Kent soon arrives at Gloucester's home with a message for Regan and Cornwall from King Lear. Oswald has already delivered his letter from Goneril, and he and Kent spar again. Kent spits many insults at Oswald for his previous disrespect toward the king. When Regan and Cornwall see what's going on, they punish Kent and have him put in stocks for the night. Kent waits for Lear's arrival and contemplates why he serves a king who has banished him.
When Lear arrives at Gloucester's home the next morning and discovers Kent has outside in the stocks, he becomes furious and calls for Regan and Cornwall. When Regan comes to greet her father, he is upset about Kent, but shares that he trusts she'll be kinder to him and his followers than her sister, Goneril. Goneril then arrives and the two sisters unite and give Lear an ultimatum: either disband your followers or find another place to live. Lear refuses to turn away of his followers and leaves in the storm. Regan and Cornwall tell a concerned Gloucester to close up his doors as to not let Lear back in.
ACT 3
King Lear and his Fool are caught in a massive storm. The Fool attempts to convince Lear they should find some shelter or cover, but Lear, feeling abandoned by his daughters, friends and advisors, tells the storm to rage on. The disguised Kent finds a nearby shelter and convinces Lear to come in from the storm.
By coincidence, the disguised Edgar, "Poor Tom," has been staying in the shelter King Lear, the Fool and Kent enter. When Lear meets Poor Tom, he views him as a philosopher and asks him to join their company. Gloucester finds the group in the hovel and leads all of them to a better shelter, including, unbeknownst to him, his very own son, Edgar.
Gloucester returns to his home to be bound by Regan and Cornwall's guards. Regan and Cornwall are livid that he has betrayed them and helped Lear escape. Goneril leaves with Edmund to prepare for the upcoming battle. Cornwall and Regan both insult their old friend Gloucester before gouging his eyes out for treason. They also tell Gloucester that it was his son, Edmund, who turned him in. When one of Cornwall's aids tries to step in, Regan and Cornwall kill him, but not before the aid is able to deliver a fatal blow to Cornwall. Regan and Cornwall tell the guards to throw the now eyeless Gloucester out so he can smell his way to Dover.
ACT 4
Goneril and Edmund arrive back to her home in Albany. Oswald shares with Goneril that the Duke of Albany has been acting different over the past couple of days. He even smiled when he heard about the French army's invasion. Goneril kisses Edmund before she sends him back to Regan. Albany confronts Goneril about her treatment of her father. The couple argues until they receive news that Cornwall has died. Albany learns about Cornwall's gauging of Gloucester's eyes and Edmund's betrayal. Goneril worries her sister will want Edmund now that she is a widow. Albany vows to avenge Gloucester's eyes.
Oswald brings a message to Regan from Goneril. Regan asks Oswald to share what message he is carrying from Goneril to Edmund, but as he is loyal to Goneril, he does not share. Regan tasks Oswald with giving Edmund her own "message." Regan also tells Oswald that if he happens to see Gloucester on his journey, a promotion may await him if he kills him.
Gloucester and Edgar (still pretending to be Poor Tom) are now in Dover. Gloucester has tasked Poor Tom with leading him to a tall cliff with the intention of committing suicide by falling to his death. Anticipating this plan, Edgar instead leads Gloucester to flat ground. When Gloucester "falls," Edgar pretends to be a stranger who saw Gloucester fall and claims its a miracle he's still alive. Gloucester receives some purpose for living after this.
Suddenly, King Lear, wandering the beaches of Dover and talking to himself, appears. Gloucester recognizes the voice of the King and after some teasing, Lear admits to that he knows the Gloucester as well. Guards from France along with Lear's Gentleman surround Lear, attempting to calm him down and bring him to Cordelia. Lear runs away.
Edgar and Gloucester seek shelter when Oswald appears. Oswald tries to kill Gloucester, but Edgar defends his father and kills Oswald in the process. Before Oswald dies, he offers Edgar his money in exchange for burying him and asks him to complete his task of delivering a letter from Goneril to Edmund, the new Earl of Gloucester. When Edgar reads the letter he discovers that Goneril and Edmund are plotting to kill her husband Cornwall so they can be together.
Cordelia thanks Kent for his letters and his kindness in helping protect her father. Lear is still physically and mentally exhausted from his experience, but when he recognizes Cordelia, memories return and he apologizes to her for his arrogant behavior and treatment. Cordelia and Lear are reunited at last.
ACT 5
With Cornwall dead, Edmund has taken over Regan's army. When pressured by Regan about the nature of his relationship with her sister, he claims to only feel romantic love Regan. Albany and Goneril arrive and Goneril talks about the importance of teaming up against France and putting personal dramas aside. Albany is approached by a disguised Edgar, delivering the letter originally intended for Edmund to him. In the letter, Albany learns about the plot to kill him by his wife and Edmund. Edgar tells Albany that if he challenges Edmund about the letter, he will come forward and prove it is true.
Edmund admits that he has been lying to both Goneril and Regan about his relationships with the other sister. He debates which sister he should pick. He also shares that he plans on stopping an official pardon made by Albany to spare the lives of Cordelia and Lear for their allegiance to the French.
Albany confronts Edmund and Goneril about their plans to murder him. He challenges Edmund and asks any others with treasonous accusations against him to step forward. After a trumpet sounds, a masked Edgar appears and publicly calls his brother a traitor. The two fight and Edgar defeats Edmund. Knowing he is dying, Edmund admits to it all.
Edgar shares his true identity with everyone, including his brother, and recounts his story of pretending to be Poor Tom and helping their father. He also tells Edmund that he eventually reveled himself to Gloucester and told him he was going to defeat his brother. Upon hearing this news, Gloucester died at peace. Edmund decides to try and do one final good thing before he dies, but is stopped by news that Regan has died by poisoning and Goneril, feeling guilty for killing her sister, has killed herself.
Edmund shares that he has ordered the deaths of Cordelia and Lear, but believes there is still time to stop it, and then dies. Before the others can reach the prison, Lear enters with the now dead Cordelia. The no-longer disguised Kent tries to talk to Lear, but Albany tells him that Lear's mind is gone. Grieving and delusional, Lear dies next to Cordelia.