Buffett’s March Madness offer: $1M a year for life for perfect bracket

(CNN) — It’s that time of year again: 68 college basketball teams earn bids for the NCAA March Madness tournament. And Berkshire Hathaway employees are given a challenge by their boss.

The company’s CEO, Warren Buffett, promised $1 million a year for life to the Berkshire (BRKA) employee who picks a perfect bracket through the NCAA tournament’s Sweet 16.

And Buffett will sweeten the pot if a team from his home state of Nebraska clinches the national title, he announced last month.

“If either Creighton or Nebraska ends up winning the tournament, we’re going to double the prize. So instead of being $1 million, it’s gonna be $2 million,” he said on CNBC.

The odds of winning either are astronomically high.

But Berkshire employees don’t need perfection to win some money. Buffett gives out $100,000 to the employee who’s bracket stays intact the longest.

Last year, a West Virginia factory worker won $100,000 for picking 31 of the tournament’s first 32 games.

Buffett held his first bracket competition in 2014. The inaugural contest, which was open to the public, offered a grand prize of $1 billion for anyone who could correctly pick the winners of all the games. No one won.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s