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

REVIEW: ‘St. Vincent’ shouldn’t work, but it does

This image released by The Weinstein Company shows Bill Murray, left, and Jaeden Lieberher in a scene from the film, "St. Vincent."

St. Vincent should be forgettable, yet it’s one of the more memorable and moving dramedies you’ll see this year.

in Entertainment

Today in entertainment history: Oct. 23

strait

A look at the Hollywood headlines that went down in history.

in Viral Videos

Famous album covers come alive

18-overlay1

No, your eyes aren't tricking you. The album covers in Roy Kafri's new music video ARE singing along.

in Sports

NFL: Legal process will play role in punishments

nfl

Punishment for players implicated in domestic violence will not be imposed upon arrest but at some point "farther down the process."

in Entertainment

Oprah, Neil Patrick Harris among year’s most ‘fascinating’

FILE - This Sept. 20, 2009 file photo shows host Neil Patrick Harris during the 61st Primetime Emmy Awards in Los Angeles. Harris will host the Emmys again. CBS will air the Emmycast live from Los Angeles on Sept. 22. (AP Photo/Mark J. Terrill, file)

Barbara Walters is back with her annual TV special.