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 Entertainment

Love Hulu but hate the ads?

hulu

Hulu is rolling out an ad-free version of its subscription service.

in Entertainment

Cate Blanchett to play Lucille Ball in new biopic

cateblanchett

The movie will chronicle the entertainer's 20-year marriage to Desi Arnaz, her "I Love Lucy" co-star.

in Lifestyle

Your heart might be ‘older’ than you are

23-overlay2

Three out of four U.S. adults have a predicted "heart age" that is older than they are, putting them at increased risk for heart attacks and strokes.

in Trending, Viral Videos

TODAY’S MUST SEE: Stephen Colbert takes on Jeb Bush’s VIP ticket offer

14-overlay1

For a $3 campaign donation, you can enter a raffle for a VIP ticket to the very first "Late Show With Stephen Colbert." Great idea ... but maybe you should have asked the show host first.

in Entertainment

Today in entertainment history: Sept. 3

kevinbaconkyrasedgwick

Here's a look at some of Hollywood's most memorable headlines.