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.

Recent Headlines

1 hour ago in Viral Videos

This ‘Game of Thrones’ inspired Mother’s Day gift is sure to be a hit

Fresh
24-overlay-1

Still looking for a last minute gift for mom? Jimmy Kimmel has got you covered.

4 hours ago in Music

Graceland, home of Elvis, receives 20 millionth paid visitor

elvis284741843295

Tours of the famous estate began in 1982.

6 hours ago in Entertainment

Dan Aykroyd adapting ‘Blues Brothers’ for animated series

danaykroyd391647313397

The animated project will also feature the band's original songs, as well as soul and blues classics, and new material recorded specially for the series, which Aykroyd will help to develop alongside "Saturday Night Live" writer Anne Beatts.

6 hours ago in Entertainment

‘Frozen’ fans want Queen Elsa to ‘come out’

21-overlay-2

Fans are urging movie executives to make the film's snow queen Elsa a lesbian in the sequel.

6 hours ago in Music

Dolly Parton planning to renew vows on 50th anniversary

dollyparton850993298558

The "9 to 5" singer had previously expressed her desire to throw another wedding bash to celebrate the milestone but said her famously reclusive husband, who has rarely been pictured with her in public, "really hates" the attention.