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

in Entertainment

Jon Stewart prepares to sign off

Fresh
15-overlay2

After 15 years, the comedian will bid farewell as he hosts his final "Daily Show."

in Entertainment

Tom Cruise’s ‘Rogue Nation’ dominates weekend box office

20-overlay

It's the third largest movie opening for Cruise, following the $64.9 million launch for 2004's "War of the Worlds" and $57.8 million for 2000's "Mission: Impossible 2."

in Viral Videos

Epic Pomeranian puppy sneeze

14-overlay2

There are worse ways you could spend a few seconds of your day.

in Music

Lynn Anderson dead at 67

14-overlay1

The Grammy-winning "Rose Garden" hitmaker is considered a pioneer for women in the genre.

in Music

WATCH: Dolly Parton returns to Music City

24-overlay

After a 12 year absence, the country legend returned to the Ryman Auditorium in Nashville Tennessee.