Michael Douglas’ Oscar-Winning Role Was Offered to Two Others Before Him

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Oliver Stone’s famous 1987 film, Wall Street, is largely thanks to Michael Douglas‘s incredible performance. However, before Douglas was cast, Stone originally considered two other big stars for the role of Gordon Gekko: Warren Beatty, known for Bonnie and Clyde, and Richard Gere, famous for American Gigolo.

Douglas recently shared a surprising piece of Wall Street history at the TCM Classic Film Festival in New York. He told Alicia Malone that, despite his long career, he hadn’t known about it until recently (according to People magazine).

We were just discussing this beforehand, and it reminded me that I haven’t seen the movie in around 40 years. I recently read that Oliver Stone originally offered the role to Warren Beatty, but he turned it down. Then, Richard Gere also passed on it. I never knew that – you always assume you’re the first choice!

Douglas was thrilled to be cast in the role, even though he wasn’t the first choice. He was eager to play Gekko, the character who mentors Bud Fox in the film. The 81-year-old actor believes he understands why director Stone chose him after Warren Beatty and Richard Gere turned down the part.

Oliver was looking for someone who understood the business world when he was casting, and I think my background helped. I grew up in New York City, went to private schools, and had friends involved in finance, particularly on Wall Street. While I wasn’t directly working in the financial industry, I was familiar with that lifestyle, and I think that’s why he picked me for the role.

Oliver Stone Messed With Michael Douglas’ Head


20th Century Studios

During a conversation with Malone, Douglas shared a story about harsh criticism he received from the director of Wall Street just two weeks into filming. According to the story, Stone went to Douglas’s trailer and bluntly asked if he was using drugs, implying he looked inexperienced in front of the camera. Stone then asked Douglas to review the day’s footage with him, something Douglas hadn’t done throughout his entire career.

I was carefully evaluating the people involved, and they seemed very talented. I kept expressing my positive impression, saying things like, ‘I think it’s good,’ and the director, Stone, would agree, even if it meant risking my dislike of the project. He has a strong track record of getting great performances from actors, and I’m incredibly grateful he chose me for the role and challenged me to improve.

Michael Douglas won the Best Actor award at the 60th Academy Awards, beating out strong competition including Robin Williams, Jack Nicholson, Marcello Mastroianni, and William Hurt. It makes you wonder if Oliver Stone’s demanding direction helped Douglas deliver such a memorable performance. While that’s debatable, the two clearly worked well together, later collaborating again on the 2010 sequel, Wall Street: Money Never Sleeps.

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2026-02-08 21:38