Last year, Leo was the belle of the ball, finally nabbing Best Actor and putting an end to #PoorLeo memes that had been haunting him for years. And this year he was back onstage to present the Best Actress Oscar - which Emma Stone won for La La Land.
And then it all went horribly wrong - Warren Beatty and Faye Dunaway read out the wrong envelope and the cast and crew of La La Land came on the stage to accept the award...but Moonlight had won it instead. "I knew I would screw this up," said Jimmy Kimmel, a first-time host.
"I promise to never come back," he said, trying to diffuse the tension.
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Mayhem ensued, embarrassment for all and questions of how did it happen? This is the first time in the history of the Oscars that something like this has happened.
One theory is that Leo DiCaprio orchestrated the whole thing.
But why would he do that? Well, maybe he's still pissed that he had to wait such a long time to get a Best Actor that he wants revenge. Or maybe because he could.
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Warren Beatty somehow got hold of the envelope that had Emma Stone and La La Land on it - and some people think that Leo gave it to him. But Emma has said she's still got the card - as if you're going to let go of the card that says you've won an Oscar.
The accounting firm Price Waterhouse Cooper has been looking after the names of the winners for over eight decades. Two partners attend the Oscars with matching briefcases with two sets of envelopes, just in case one set is compromised or stolen. It's like a film in itself...
So there is a duplicate for each envelope. One of the two accountants accidentally handed over the same envelope twice. This is the first time there has ever been a screw up like this. And they're really sorry about the mess up.
Or... did Leo dazzle the tax lawyers with his smile and charm and accidentally make them mess up giving out the envelopes?
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Well, no. Of course not. It's all just a bit of a laugh.
Words by Laura Hamilton
Featured Image Credit: ABCTopics: Leonardo DiCaprio, Oscars