James Cameron sold the rights to his script for The Terminator for $1.
Cameron wanted to direct the film himself, but studios were reluctant to give the relatively inexperienced filmmaker that opportunity. He therefore made a deal with producer Gale Anne Hurd: she would acquire the rights for one dollar, provided she allowed Cameron to direct the movie.
The arrangement helped Cameron retain creative control and led to The Terminator (1984), starring Arnold Schwarzenegger as the killer cyborg sent back in time. Hurd produced the film, while Cameron directed and co-wrote it. The movie became a major commercial success and launched one of Hollywood’s best-known science-fiction franchises.
The common mix-up is that Cameron did not sell the finished film or the entire franchise for $1. The dollar refers to the script’s underlying rights and was part of a strategic deal to get the movie made on his terms. Cameron later expressed regret about selling those rights so cheaply.