• Demi Moore reflected on losing the Best Actress Oscar to Mikey Madison during an appearance at the TIME100 Summit in New York City on Wednesday, April 23

  • The Substance actress said that upon the upset, she “immediately recognized that there is something that is greater that I am to be in service to”

  • Moore also said she “really had the pleasure of getting to know” Madison, “and think that she did an incredible performance” in Anora

It’s onwards and upwards for Demi Moore.

The actress and 2025 PEOPLE’s World’s Most Beautiful issue cover star, 62, appeared at the TIME100 Summit in New York City on Wednesday, April 23, where she opened up about losing the Best Actress Academy Award to Mikey Madison last month, in a surprise upset.

The Anora star, 25, seemed stunned as she nabbed her first-ever Oscar, after a win at this year’s BAFTA Awards ceremony. Moore, meanwhile, earned victories throughout awards season, including at the Golden Globes, Critics Choice Awards and more for her role in The Substance, which cemented her as the frontrunner for the Academy Awards.

On Wednesday, Moore reflected on the larger picture after being asked about claims she “should have won the Oscar.” The actress did admit that the moment she lost, “it was being projected that I would win, and so of course there’s disappointment.”

“I also immediately recognized that there is something that is greater that I am to be in service to; even if I don’t know what that is — that there is a reason,” Moore continued.

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Courtesy of MUBI; Neon

Demi Moore in The Substance (2024); Mikey Madison in Anora (2024)

Related: Demi Moore Shares Details of Her ‘Beautiful, Easy Day’ After This Year’s Oscars (Exclusive)

If she “had won,” she said, “it would be like a completion to what had started.”

“And clearly the message here is that there’s more work to be done,” Moore continued. “That this issue is not complete. And I’m sorry to everyone who had hopes for me that was also hope for themselves. Because I did feel a lot of collective disappointment that felt like it was even bigger than me.

The Ghost actress also noted how she “really had the pleasure of getting to know Mikey Madison, and think that she did an incredible performance” in Anora.

“And really, it’s an odd thing [that] there would be a competition, anyway,” she added.

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Kevin Mazur/Getty; Scott Kirkland/Disney via Getty Demi Moore and Mikey Madison at the 97th Academy Awards in Hollywood, California, on March 2, 2025

Kevin Mazur/Getty; Scott Kirkland/Disney via Getty

Demi Moore and Mikey Madison at the 97th Academy Awards in Hollywood, California, on March 2, 2025

Related: Demi Moore Predicted Mikey Madison’s Best Actress Oscar Win Moments Before It Happened

Her performance as aging actress Elisabeth Sparkle in The Substance earned Moore her first-ever nomination at the Academy Awards. And asked whether she sees herself nabbing a golden statuette in the future, she said at the TIME100 Summit that it “would be nice.”

“I can’t say I would be mad at it,” Moore admitted. “But … the [answer to the] question ‘Should I have won?’ is really, maybe not — certainly not the perspective of how I hold it. Because I didn’t [win].”

The Now and Then actress also said she “really [does] subscribe to this idea that everything in life is happening for me, not to me.”

“And that doesn’t mean there isn’t disappointment, pain or that things [always] go the way I would like,” Moore added. “But when I look at it through that lens, it allows me to step back and say, ‘What is this trying to give me?’ “

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