Demi Moore, 62, reels from a crushing defeat at the 2025 Oscars, losing best actress to “Anora” star Mikey Madison, 25, on March 2. Sources tell Page Six the “Substance” actress feels heartbroken after pinning high hopes on her first Academy Award, buoyed by a Golden Globe win. Though gracious, she struggles with the sting of disappointment.

Moore, a frontrunner for her role as a fading star in “The Substance,” faced stiff competition from Madison, Fernanda Torres, Karla Sofía Gascón, and Cynthia Erivo. An insider reveals she saw this as her moment, making the loss hit hard. Video on X captured her jaw tightening as Madison’s name rang out, signaling her shock.

Heartbreak Meets Support

The source says Moore genuinely cheers Madison and her peers, but not hearing her name crushed her. Transitioning to the aftermath, she found solace at the Vanity Fair Oscar Party, where fans and friends rallied around her. They praised her chilling portrayal of Elisabeth Sparkle, a celebrity chasing youth via a black-market drug, yet the night left a void.

Madison, dazed by her win, called it “surreal” in her speech. She grew up in L.A., she told the crowd, but Hollywood felt distant—until now. Clutching her Oscar, she honored her nominees, including Moore, for their “beautiful, breathtaking work,” adding a dreamy note about waking up tomorrow.

A Dream Denied

For Moore, the Oscars capped a stellar run—Golden Globe in hand, she dared to dream bigger. The insider notes her effort to stay upbeat, but the loss looms large. Her rep stayed silent, leaving fans to dissect her visible dismay. Meanwhile, Madison’s triumph in “Anora” stole the spotlight, leaving Moore to regroup after a night of highs and lows.


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