As Jay Gatsby’s world crumbles around him, he tells his lone friend Nick Carraway, “I’ve murdered pieces of myself to stand on this marble.”

Stand on this marble. Drive a Rolls Royce. Throw lavish, absurd parties in a lavish, absurd mansion to court wealthy socialite Daisy Buchanan.

Like its source, F. Scott Fitzgerald 1925 novel  “The Great Gatsby,” American Repertory Theater’s “Gatsby” is obsessed with money: Who has it, who doesn’t, how do they spend it, how did they get it, how do they get more of it. It’s a musical that drips with Jazz Age debauchery and influencer hedonism of today.

The team behind this new production — now through Aug. 3 at the Loeb Drama Center — is its own embarrassment of riches. Book writer Martyna Majok won a Pulitzer Prize for her play “Cost of Living.” Tony-winning director Rachel Chavkin helmed “Hadestown” and “Natasha, Pierre & The Great Comet of 1812.” Florence Welch (Florence + The Machine), who wrote the lyrics and collaborated on the score with Oscar and Grammy Award nominee Thomas Bartlett, is a bonafide rock god.

But as Jay Gatsby finds out, riches don’t necessarily equal success. Thankfully, “Gatsby” is not as naive as its title character.

The plot is a faithful retelling of the novel. The mysterious Jay (Isaac Powell) tries to win back long-lost love Daisy (Charlotte MacInnes) with his new money to tragic ends while surrounded by a mix of adrift and ravenous people during the roaring ’20s. Beyond that, it is a highly-stylized production that blends art deco, German expressionism, Bob Fosse-esque choreography, modern pop, Broadway grandeur, burlesque, dark humor, and opulence. (Who knew shades of gray and chrome could be so glamorous? Apparently design team Mimi Lien, Sandy Powell, and Alan C. Edwards..

Even with so much style, the production never loses the thread. The novel and Majok’s book are so tight that the action keeps pushing forward as outsider Nick (in a star-making turn for Ben Levi Ross) watches as Jay, Daisy and Daisy’s husband Tom (Cory Jeacoma) destroy their lives in a haze of parties, booze, lies and affairs.

Welch and Bartlett bring a contemporary feel to the musical. Sung by Tom’s mistress Myrtle (the spectacular Solia Pfeiffer), “Shakin Off the Dust” is part “Cabaret,” part disco hedonism, part 2024 club jam. But Welch and Bartlett know what Broadway blockbusters demand so there are plenty of straightforward, blustery ballads.

Not that audiences needed reminding of the contemporary. Everything about “Gatsby” echoes our age. The show is set in a New York pumped full of life, culture, and exploitable labor from a dramatic wave of immigration. In a world desperate to forget the horrors of The Great War, the old rich and new rich and perpetually poor all try to step on one another to climb higher. Not surprisingly, the poor get stepped on the hardest. As Myrtle says, “It’s not about money. It’s about security.”

“Gatsby” should make a lot of money. It should go to Broadway and get some Tonys. But it should make people think about what pieces of ourselves we’re willing to murder to stand on an Italian Carrara marble staircase.

For tickets and details, visit americanrepertorytheater.org