Featured Image Credit: Mike Coppola / Staff / via Getty
Topics: Celebrity, TV And Film, Oscars, Entertainment, Explained
Rhiannon Ingle
Topics: Celebrity, TV And Film, Oscars, Entertainment, Explained
Michael B. Jordan took home his very first Oscar at the 98th Academy Awards on Sunday night (15 March).
The 39-year-old Hollywood A-lister won Best Actor for his roles as twins Smoke and Stack in Ryan Coogler's hit action horror flick, Sinners.
The film entered the night with the record for the most Oscar nominations for a single film, with 16 and left with four awards in total: Best Original Screenplay, Best Original Song, Best Cinematography and the aforementioned Best Actor gong.
When his victory was announced, the audience erupted into a chorus of cheers as Jordan entered the stage before taking a moment to pay tribute to previous stars who had taken home the prestigious accolade.
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"I stand here because of the people who came before me," he said before referencing the fact that he is just the sixth Black actor to win an Oscar for a leading role. "Sidney Poitier, Denzel Washington, Halle Berry, Jamie Foxx, Forest Whitaker, Will Smith."
Berry remains the only Black woman to have ever won for Best Actress
Despite his monumental achievement, however, Jordan won't technically own the trophy, and there's a very specific reason as to why.
Winning an Oscar is the ultimate career perk, often leading to bigger roles and a fatter pay cheque.
The statuette itself, however, is another story.
Since 1951, the organisers behind the Academy Awards have enforced a strict rule about what winners can do with the famous gold figure.
The policy in question blocks recipients from selling or disposing of the Oscar statuette.
"Academy Award winners have no rights whatsoever in the Academy copyright or goodwill in the Oscar statuette or in its trademark and service mark registrations," the official regulations state.
"Award winners must comply with these rules and regulations. Award winners shall not sell or otherwise dispose of the Oscar statuette, nor permit it to be sold or disposed of by operation of law, without first offering to sell it to the Academy for the sum of $1.00. This provision shall apply also to the heirs and assigns of Academy Award winners who may acquire a statuette by gift or bequest."
The condition also extends to 'the heirs and assigns of Academy Award winners who may acquire a statuette by gift or bequest'.
The contract has stayed in place ever since. Still, rumours linger that some trophies quietly change hands among celebrities or private collectors.
Awards handed out before 1951 sit outside the rule, which makes them especially tempting to prospective buyers.