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

Wild World Series: Perfect Royals, tested Giants

Fresh
24-overlay3

Playoff-perfect Kansas City will meet San Francisco on baseball's biggest stage.

in Music, Sports

San Fran bans Lorde’s ‘Royals’ for World Series run

Fresh
lorde

Ahead of game No. 1 between the Giants and Kansas City, California radio stations have removed the chart-topping song from their playlists.

in National

Suspected Indiana serial killings could go back 20 years

Fresh
gary

A man suspected in at least seven slayings of women may have killed other people in the state as far back as 20 years, police say.

in Sports

Kings’ Voynov suspended by NHL after domestic violence arrest

Fresh
kings

Defenseman Slava Voynov was suspended indefinitely after his arrest on charges of domestic violence.

in National

Toyota recalls 247K more vehicles to fix air bags

toyota

The automaker is recalling cars, SUVs and pickup trucks because of potentially defective front passenger air bag inflators.