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 Headlines

in Lifestyle

60 years on Las Vegas Strip, Riviera closes

This Feb. 16, 2015 photo shows the Riviera Hotel and Casino on the Las Vegas Strip. Owners of the hotel which opened in 1955 have agreed to sell the property to the Las Vegas Convention and Visitors Authority. The tourism agency confirmed the potential purchase Tuesday, Feb. 17 after days of not commenting on rumors of a deal.

The aging Riviera Hotel and Casino on the Las Vegas Strip is expected to close its doors at noon.

in Music

Miley Cyrus to release album with The Flaming Lips

Miley Cyrus arrives at the 57th annual Grammy Awards at the Staples Center on Sunday, Feb. 8, 2015, in Los Angeles.

Wyane Coyne reveals that The Flaming Lips have recorded a seven-song album with Miley Cyrus and are preparing to unleash it later this year.

in Entertainment

Annie Leibovitz snaps ‘Star Wars’ cast

Star Wars Force Awakens

See the new photos of the upcoming "Star Wars" film, shot by celebrity photographer Annie Leibovitz.

in Viral Videos

Councilman forgets to turn off his mic in the bathroom

25-overlay1

The city's Mayor Pro Tem tries to keep it professional, but her fellow council member's trip to the bathroom is just too distracting.

in Entertainment, Lifestyle, World

Britain’s newborn princess has been named

Britain's Prince William, right, and Kate, Duchess of Cambridge, pose for the media with their newborn daughter outside St. Mary's Hospital's exclusive Lindo Wing, London, Saturday, May 2, 2015. The Duchess gave birth to the Princess on Saturday morning.

Britain's newborn princess has been named Charlotte Elizabeth Diana.