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 Black Friday, National

Thanksgiving getaway: Cheap gas but fears of terrorism


That other Thanksgiving tradition — congested highways and jammed airports — is underway with gas prices low and terrorism fears high.

in National

2015 to be the hottest year in history


This year will be the hottest on record and 2016 could be hotter due to the El Niño weather pattern, the World Meteorological Organization said.

in National, World

Many House Republicans want refugee restrictions in spending bill


Nearly one-third of the Republicans in the House of Representatives signed a letter calling on party leaders to ensure that a must-pass spending bill block any use of federal funding to resettle refugees from Syria and nearby countries.

in Black Friday, National

Just call him a V.I.T.


The VIP birds have arrived at the White House to get the annual presidential pardon.

in Trending, Viral Videos

TODAY’S MUST SEE: Harrison Ford, Chewbacca settle feud


With a little help from Jimmy Kimmel and Adele, Harrison Ford and Chewbacca finally set aside their past differences.