Demi Moore wasn’t shocked when Mickey Madison snagged Best Actress for Anora—even if the Oscars audience was. Heading into the 2025 Academy Awards, the 62-year-old actress was widely seen as the frontrunner for her performance in The Substance.

Demi Moore opened up about her 2025 Oscar loss, revealing what she whispered to her manager moments before the winner was announced.

"I didn’t feel gutted. I didn’t feel any of those kinds of things. I just trusted, and am in trust of, whatever is going to unfold," the 'Substance' star said.