Greed has definitely been good for Michael Douglas.
The Wall Street star was feted in grand style last night, receiving the 37th AFI Life Achievement Award at a tribute attended by longtime pals Jack Nicholson, Warren Beatty, Annette Bening, Kathleen Turner and Oliver Stone, along with former costars Tobey Maguire, Benicio Del Toro, Sharon Stone, Martin Sheen and Matthew McConaughey.
Douglas, 64, beamed as friends old and new shared favorite stories of the Oscar-winning actor-producer amid clips of his greatest hits.
"I've had so many of my high moments and so many of my fine moments with you," said Nicholson, recalling their work together on One Flew Over the Cuckoo's Nest, which Douglas produced.
The evening featured a moving appearance by his legendary father, Kirk Douglas, and a couple of musical numbers, including wife Catherine Zeta-Jones in a show-stopping rendition of "One" from A Chorus Line (Douglas starred in the film version) and a surprise performance by Bob Dylan, whose music graced the soundtrack of Douglas's 2000 film Wonder Boys.
Upon accepting his prize, Douglas thanked his parents for his "acting DNA" and gave a shout-out to his The Streets of San Francisco costar and mentor, Karl Malden, who in a videotaped message likened Douglas to an "adopted son."
"I'll be his adopted son anytime," Douglas replied.
The tribute will air July 19 on TV Land.