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

Police raid Indy home of ‘Jared from Subway’

Updated
jaredfogle

The raid comes just months after the former director of the sandwich spokesman's nonprofit Jared Foundation was arrested on federal child pornography charges.

in Entertainment

Your Frappuccino is going to cost you more

starbucks

Starbucks says it's hiking prices again starting today, with the increases ranging from 5 to 20 cents for most affected drinks.

in Entertainment

Pamela Anderson launches online culinary show as she preps vegan cookbook

pamanderson

The former "Baywatch" beauty has launched a blog featuring video tutorials on how to cook up healthy green meals.

in Music

Steven Tyler to announce CMA Awards nominees

steventyler

The nominations for the Country Music Association Awards will be announced by a country newcomer.

in Entertainment

Amy Schumer and Aziz Ansari to lead ‘Oddball Comedy’ tour

amyschumer

Other comedians joining the multi-state tour include Nick Kroll, Nikki Glaser, Michael Che, and Jim Norton.