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.

Recently Played

Latest Headlines

in Entertainment

It’s gonna cost more to rent at Redbox

redbox

Prices for renting movies and video games will increase starting next week.

in Black Friday, Viral Videos

WATCH: What ‘Black Friday’ would look like as a scary movie

20-overlay6

Black Friday would be a scary shopping experience if it got the Hollywood treatment.

in Entertainment

Channing Tatum going behind the camera to direct

tatum

The "Magic Mike" star is taking on an adaptation of young-adult novel "Forgive Me."

in Music

The Beatles’ ‘Abbey Road’ pics fetch $230K

abbeyroad

Six discarded images from the iconic album shoot have been sold at auction.

in Music

Justin Bieber recording with Michael Jackson’s son

princemichaeljackson

The "Baby" hitmaker is reportedly recording in secret with the King of Pop's son, Prince.