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

TOP 5: Worst things to buy online

Fresh
16-overlay7

Money expert Matt Granite explores what items are best purchased online and what items are better left to the in-store shopping experience.

in Music

The Gaslight Anthem taking hiattus

gaslightanthem

The rockers will be going on an indefinite break following their upcoming European tour.

in Entertainment

‘Partridge Family’ star David Cassidy discusses bankruptcy auction

20-overlay9

The '70s star is putting his Florida mansion up for auction in September.

in Entertainment

Stallone puts ‘Rocky,’ ‘Rambo’ memorabilia up for auction

sylvesterstallone

"Rambo" and "Rocky" fans no longer have to fight Sylvester Stallone for a piece of those movies' memorabilia.

in Viral Videos

Drunk Ron Weasley celebrates Harry Potter’s birthday

12-overlay13

Simon Pegg visits "The Tonight Show" to wish Harry Potter an early happy birthday.