He also starred as "V" in the 2006 movie V for Vendetta, also produced by The Wachowskis, as well as playing multiple roles in another Wachowskis film, Cloud Atlas (2012). Other roles he's best known for are Elrond from Peter Jackson's Lord of the Rings trilogy and he lent the voice of Megatron in Michael Bay's Transformers franchise. He was also acclaimed for playing Anthony Belrose a.k.a. "Mitzi Del Bra" in the Australian cult classic The Adventures of Priscilla, Queen of the Desert.
He also voiced Rex in Babe, and starred as The Red Skull in Captain America: The First Avenger.