This year's Oscars, which will be held on Sunday in Los Angeles, will be the 95th.
With thousands of Academy members attending and the recipients’ names kept top secret until the last minute, the glittering ceremony is a far cry from the first-ever awards, which were an invite-only dinner that cost only $5 to attend, with winners announced to the press three months in advance.
Plenty about the Oscars has changed, including the gradual move from 15 categories to 24, but one thing has stayed the same — the A-list attendees.
Here, we delve into the history of the world’s most famous awards ceremony.
Created to tackle Hollywood scandal
Producer and co-founder of the famed Hollywood studio Metro-Goldwyn-Mayer, or MGM, Louis B Mayer established the International Academy of Motion Picture Arts and Sciences, or Ampas, in 1927. Along with his close friends, director Fred Niblo, celebrated matinee idol Conrad Nagel and Fred Beetson, the head of the Association of Motion Picture Producers, they set up the non-profit organisation to mediate labour disputes without involving unions.
Mayer was also motivated by a desire to advance the movie industry at a time when middle America considered Hollywood to be a place of scandals and sinful behaviour, and when huge developments were being made, such as the release of the first “talkie”, The Jazz Singer, that same year.
Far from being the huge awards ceremony it is today, the Ampas (they quickly dropped the “International”) was more of a private members club with 36 founders and membership only open to five branches of the industry: producers, actors, writers, directors and technicians.
The first official meeting was held on May 6, 1927 and five days later, actor and director Douglas Fairbanks Sr was elected the first president of the academy.
The first Academy Awards
By 1928, the academy had begun building its library, filled with books about film and the industry. The following year, it joined forces with the University of Southern California to create America's first film school. Later alumni would include Oscar-winning director Ron Howard, Black Panther director Ryan Coogler, Star Wars creator George Lucas and Grey’s Anatomy creator Shonda Rhimes.
It was also in 1929 that the first awards ceremony was held, on May 16, at a private dinner hosted by president Fairbanks at the Los Angeles Biltmore Hotel (now the Millennium Biltmore Hotel).
Around 270 people attended, each paying $5 a ticket ($86 in today’s money) with 15 statuettes handed out during a ceremony that lasted 15 minutes — a far cry from the three-hour-plus runtime of the modern Oscars.
Scroll through photos of Oscars history below
The first-ever Academy Award was given to Emil Jannings, who won Best Actor for his roles in the silent films The Way of All Flesh (1927) and The Last Command (1928). The Best Picture winner was Wings (1927).
The winners had been announced to the media three months before, a process that was changed the following year when awardees were revealed to the press at 11pm on the evening of the awards.
The academy through the years
For the first six awards ceremonies, the eligibility period to qualify for nomination spanned two years and recipients were judged on their performances across many films.
It wasn’t until 1957 at the 29th ceremony, that the Best Foreign Language Film category was introduced, now called the Best International Feature Film. In 2002, the first gong for Best Animated Feature was awarded.
Categories are not just added, however. Some have been taken away, such as the Juvenile Award. Dubbed the “Oscarette” — which, at 18cm-tall was half the size of the 35cm-high Oscar — famous child-actor Shirley Temple won hers at the 1934 ceremony at the age of six.
Discontinued in 1961, the Juvenile Award joined Best Dance Direction, Best Title Writing, Best Assistant Director, Best Engineering Effects and Best Original Musical or Comedy Score among the sections that no longer exist.
How the Oscar got its name and other facts
In a story that has become Hollywood legend, the award is said to have gotten its nickname courtesy of academy librarian and executive director Margaret Herrick, who commented that the statuette looked like her uncle Oscar.
The nickname was used informally within the industry to describe the golden statue until 1934 when, in his acceptance speech for The Three Little Pigs winning the Best Animated Short Film, Walt Disney publically referred to the award as “Oscar”.
The following day, show business columnist Sidney Skolsky wrote “Oscar” in print for the first time, but it wasn't until 1939 that the academy officially used the name too.
The statue was originally dubbed the Academy Award of Merit and depicted a knight holding a sword and standing on five reels of film, one for each of the branches of the Academy.
It was LA sculptor George Stanley who redesigned the statue in 1928, changing the shape of the knight, leaving the sword, which symbolised the defence of film and the arts, but removing the reels.
During the Second World War, owing to the shortage of metal which was commandeered for the war effort, the statuette was made of plaster. Three years after the war ended, plaster-award recipients were given replacements made of the current solid bronze, plated in 24-karat gold.
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Tank warfare
Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks.
“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.
“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”
MATCH INFO
Liverpool 2 (Van Dijk 18', 24')
Brighton 1 (Dunk 79')
Red card: Alisson (Liverpool)
Gifts exchanged
- King Charles - replica of President Eisenhower Sword
- Queen Camilla - Tiffany & Co vintage 18-carat gold, diamond and ruby flower brooch
- Donald Trump - hand-bound leather book with Declaration of Independence
- Melania Trump - personalised Anya Hindmarch handbag
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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The specs
Engine: 4.0-litre V8
Power: 503hp at 6,000rpm
Torque: 685Nm at 2,000rpm
Transmission: 8-speed auto
Price: from Dh850,000
On sale: now