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 Sports

Paul McGinley pulls out of PGA Championship with injury

Fresh
Paul McGinley of Ireland laughs during a news conference after being named the European Ryder Cup captain at the St. REgis in Saadiyat Islands in Abu Dhabi on January 15, 2013.

European Ryder Cup captain Paul McGinley has pulled out of the PGA Championship with a shoulder injury.

in National

Dollar Tree to buy Family Dollar for $8.5 billion

Fresh
FILE - In this Tuesday, Nov. 29, 2005, file photo, customers walk past a Family Dollar store at Hickory Grove Market in Charlotte, N.C. Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about $8.5 billion, the companies announced Monday, July 28, 2014.

Discount store chain Dollar Tree Inc offered to buy rival Family Dollar Stores Inc for about $8.5 billion.

in Sports

South African Tim Clark wins Canadian Open

Tim Clark tees off the 12th hole during the third round of the RBC Canadian Open at Royal Montreal GC - Blue Course on July 26, 2014.

South African Tim Clark sank a six-foot par putt to beat American Jim Furyk by one stroke at the Canadian Open.

in National

Tentative agreement reached on U.S. veterans’ funding bill

Senator-elect Bernie Sanders (I-VT) is interviewed by a Reuters reporter at Sanders' office in Burlington, Vermont on November 28, 2006.

The head of the Senate Committee on Veterans' Affairs, and his House counterpart will outline the funding agreement at a news conference today.

in National

One dead after lightning strikes beach crowd

A man is treated by a paramedic after a lightning strike in the water in Venice, California July 27, 2014.

One man died and at least eight people were injured in a lightning strike during a rare thunderstorm at Venice Beach in Los Angeles.