Warren Buffett’s March Madness event is starting up and it gives employees a chance at $2 million for life.
The offer from Warren Buffett is for employees Berkshire Hathaway Inc. (NYSE:BRK.A,BRK.B). Employees that can correctly predict the entire bracket of the Sweet 16 tournament being held by the NCAA will win $1 million a year for life.
Employees will have to correctly pick the winners of each game if they want to win $1 million for life. However, Warren Buffett is sweetening the deal this year. If either of the two teams from his home state, the Nebraska Cornhuskers or Creighton Bluejays, wins the tournament, the March Madness prize will be $2 million a year for life.
There is also a third prize that is available if no employee is able to accurately predict all of the games. This prize is $100,000 and it goes to the employee whose bracket lasts the longest. The employee that took this prize last year correctly predicted 31 of the 32 games, reports CNNMoney.
Warren Buffett has been holding his March Madness event since 2014, but there have been some changes. The original prize was for $1 billion and anyone was allowed to participate. No one won that prize. Since then, the contest has been limited to employees and the prize changed. There has yet to be a winner of the grand prize. The changes of winning are as high as 1 in 128 billion, Money notes.
As of this writing, William White did not hold a position in any of the aforementioned securities.
