James Cameron, the celebrated filmmaker, has had a career that is nothing short of remarkable. He has created some of the most iconic films in contemporary history, from Aliens to Terminator and Avatar. But perhaps his most notable contribution to the world of cinema was the 1997 masterpiece, Titanic, which swept the Oscars and became one of the highest-grossing films of all time.

For those unfamiliar with the plot, Titanic tells the story of the ill-fated ocean liner that sank in the Atlantic Ocean, claiming more than 1,500 lives. The film follows a fictional love story between Jack Dawson, played by Leonardo DiCaprio, and Rose DeWitt Bukater, played by Kate Winslet, who board the ship as they embark on their separate journeys. The film was a massive critical and commercial success, earning Cameron 11 Academy Awards, including Best Picture and Best Director.

But as Cameron would later confess, the night of the Oscars ceremony was not without its share of embarrassing moments. The director had just won the award for Best Director, and as he took to the stage to deliver his acceptance speech, something unexpected happened that would haunt him for the rest of his life.

“Let me just say that I’m king of the world,” Cameron said as he began his speech, imitating a scene from the film where Jack stands on the bow of the Titanic, with arms spread wide, and declares the same thing.

However, as he continued to speak, he suddenly felt a strange sensation around his waist. He soon realized that his pants, which he had borrowed from his son Josh for the ceremony, were slowly slipping down his legs. Cameron turned his back to the audience to adjust his pants, hoping that nobody had seen anything. But it was too late; the damage had been done.

“I remember feeling quite embarrassed and ashamed,” Cameron later recalled. “Here I was, accepting an award in front of millions of people, and my pants were falling down. I couldn’t believe it.”

To make matters worse, Cameron’s ex-wife, Linda Hamilton, who was presenting the award to him, had also witnessed the incident and couldn’t help but make a remark about it.

“He’s had the same pants on for months,” she joked, referring to the fact that Cameron had been wearing the same pair of black pants to every public event he had attended during the promotional tour for Titanic.

The incident quickly became the talk of the town, and the media and public alike had a field day with it. Headlines like “Cameron Takes a Titanic Tumble” and “The Night James Cameron’s Pants Fell Down” dominated the news for days, much to Cameron’s dismay.

“I just wanted to crawl under a rock and die,” he said.

But despite the embarrassment he felt, Cameron has managed to stay positive and laugh about the incident over the years. In fact, he even joked about it during his acceptance speech for Avatar at the Golden Globes in 2010.

“I promised myself that I wasn’t going to do a King of the World quote, so I won’t,” he said as he took the stage. “I thought I might try ‘I’m wearing the same pants tonight that I wore during Titanic.’ It didn’t work back then. Maybe it’ll work tonight.”

As for the pants themselves, they have become somewhat of a legend in Hollywood. In 2011, they were auctioned off for a staggering $7,000, with all proceeds going to the Gay and Lesbian Alliance Against Defamation (GLAAD).

Reflecting on the incident now, Cameron says that he sees it as a lesson in humility.

“It was a reminder to myself that no matter how successful you are, you’re still capable of making mistakes and embarrassing yourself,” he says. “But I also learned that it’s important to be able to laugh at yourself and not take yourself too seriously.”

Indeed, Cameron’s pants falling down at the Oscars may have been a source of embarrassment for him at the time, but it has also become a shining example of how even the most accomplished among us can have a moment of imperfection. It’s a lesson that we can all take to heart, and a reminder that no matter how high we may climb, we should never forget to stay humble and true to ourselves.