Warren Buffett offers $1m per year for life to winner of his March Madness basketball tournament
Warren Buffett, CEO of Berkshire Hathaway, is offering his holding company's employee $1 million a year for the rest of his life if one guesses the winner of all 48 games of the NCAA March Madness bracket contest, reports Business Insider.
The basketball tournament ruled by Buffett's company will be reinstated this year after being cancelled in 2020 due to the Covid-19 pandemic, Berkshire Hathaway confirmed earlier this week.
Now, let's get back to the billionaire's mad offer:
- To win $1 million any employee has to guess the winner of all 32 first-round fixtures.
- If the outcome of all 48 first-round and second-round matches are guessed correctly, an employee gets a $1 million per year paycheck for the rest of his life.
- What's more, the prize money could be doubled to $2 million a year if Creighton University, Buffett's hometown team, makes it to the final four.
"Warren Buffett hopes that this year's winner will be awarded one of the larger prizes and receives the Creighton 'bump,'" the company's spokesman has said in a press conference.
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As a reminder, non of the employees has correctly picked all 32 winners of the first-round games since Buffett launched the contest in 2016.