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, Weird

Kid celebrates World Book Day by going to school dressed as Christian Grey

50shades

The 11-year-old was sent home from school after he came in a costume modeled after the S&M-loving star of "Fifty Shades of Grey."

in Music

Grateful Dead plan Jerry Garcia tribute

jerrygarcia

The surviving members will perform a concert billed as "Dear Jerry: Celebrating The Music Of Jerry Garcia."

in Entertainment

Stallone adapting ‘The Expendables’ for TV

expendable

The "Rambo" star has signed a deal to develop the series, which will unite action stars on a mission to stop a terrorist.

in Music

Brian Wilson taking former Beach Boys bandmates on tour

brianwilson

The music icon has recruited Al Jardine and Blondie Chaplin and to join him on his upcoming U.S. tour.