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

Coming soon: The Mustache Hall of Fame

burtreynolds

There are halls of fame for everything from baseball to rock 'n' roll, so why not those with a hairy upper lip?

in Music

Pink Floyd warns album ‘not for iTunes generation’

pinkfloyd

David Gilmour has warned the band's younger fans they might not enjoy the upcoming album.

in Entertainment

Inspiration for ‘Harry Potter’ nemesis revealed

harrypotter

J.K. Rowling says the much-hated character Dolores Umbridge is based on a teacher to whom she took an instant dislike.

in Entertainment

Pee-wee Herman headed back to big screen

peewee

Actor Paul Reubens is set to reprise his role as suited man-boy Pee-wee Herman in a new movie.