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 Trending, Viral Videos

TODAY’S MUST SEE: Dakota Johnson joins ISIS

Fresh
17-overlay

The "Fifty Shades of Grey" star hosted "SNL" this weekend and a sketch featuring her joining the terrorist group has sparked controversy.

in Music

Turn it down: Study says millions at risk for hearing loss

earphones

A new study shows almost half of all 12 to 35-year-olds listen to unsafe levels of music on their personal audio devices or cellphones.

in Music

This week’s top alternative tracks

decemberists

LISTEN: This week's top alternative songs, according to the weekly Billboard chart.

in Entertainment, Viral Videos

What color is this dress?

19-overlay6

The "great dress debate" has been dividing the Internet. Are you team #WhiteandGold or team #BlueandBlack?

in Music

George Harrison tree tribute replaced to mark 72nd birthday

harrisontree

A new tree tribute to the late George Harrison has been planted in a Los Angeles park after a beetle infestation killed off the last pine.