News

Warren Buffett’s billion-dollar bracket challenge

Warren Buffett’s billion-dollar bracket challenge

BRACKET BUSTER: The odds are nearly impossible, but business tycoon Warren Buffett says if someone can correctly pick a perfect March Madness bracket, he'll pay big bucks. Photo: Associated Press/Nati Harnik

The odds say it’s practically impossible, so what’s a perfect NCAA March Madness bracket worth? To billionaire business tycoon Warren Buffett, it’s worth $1 billion.

Forget your office pool and start brushing up on America’s top men’s college basketball teams, because the contest is open to anyone.

Buffett’s company, Berkshire Hathaway, has teamed up with Dan Gilbert, the owner of the Cleveland Cavaliers and Quicken Loans, to offer the bracket incentive. If there’s a winner – and that’s a big “if” – Buffett says it will be paid out in 25 annual installments of about $25 million.

“While there is no simple path to success, it sure doesn’t get much easier than filling out a bracket onlie,” Buffett said in a news release. “To quote a commercial from one of my companies, I’d dare say it’s so easy to enter that even a caveman can do it.”

If your bracket gets busted but is still “near perfect,” you might be eligible for one of 20 runner up prizes of $100,000 each, but those prizes have to be used toward buying or remodeling a home.

Organizers say more details on how to enter will be released closer to the start of the NCAA tournament, which tips off with Selection Sunday on March 16.

Updates can be found on the Quicken Loans facebook page and by following the Twitter hashtag #billionbracket.

Latest Stories

in Entertainment

Today in entertainment history: Sept. 19

elvis2

Alook back at the Hollywood headlines that made history.

in Entertainment

Kevin Spacey’s stalker sentenced to 4 years

kevin

A Massachusetts woman who threatened to torture the actor has been sentenced to more than four years behind bars.

in Sports

Thursday’s Sports Minute

angels

Here is a look at the sports headlines you'll be talking about today, Thursday, Sept. 18.

in National

California wildfires threaten thousands of homes

wildfire

Fire crews in the rugged Sierra Nevada region battled against a blaze that has displaced hundreds of residents.

in Entertainment

Nick Cannon’s $2M – yes, $2 million! – shoes

cannon

The shoes hold more than 14,000 full-cut diamonds set in white gold with a weight of 340 carats.