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Warren Buffett to give $1m a year for life to employee who wins March Madness

Buffet has offered $1 million a year for life for any employee of Berkshire Hathaway who correctly predicts all of the teams to make it to the Sweet 16 in this year's NCAA Men's Basketball Tournament.

Buffett has offered $1 million a year for life for any employee of Berkshire Hathaway who correctly predicts all of the teams to make it to the Sweet 16 in this year’s NCAA Men’s Basketball Tournament.

Oklahoma billionaire and business tycoon, Warren Buffett is about to make one of his many employees extremely lucky. The billionaire investor has announced a prize of $1 million for one employee who successfully guesses the Sweet 16 teams for the NCAA tournament, to be held in March.

While speaking to CNBC, Buffett said, “If they can get to the Sweet 16, if there’s only one of them, whoever it is, he or she gets a million dollars a year for the rest of their life.”

Buffett’s March Madness guess game has more than 367,700 employees at the Berkshire Hathaway and its subsidiaries, Kraft Heinz, Geico, See’s Candies and BNSF Railway, who will give the big guessing game a go.

And they guess does not need to be a 100 per cent accurate, as Buffett plans to award the person with the closest guess the million dollars in case of the absence of a lucky winner.

Buffett has been known for his March Madness fun, with him previously having set out similar guessing games for his employees.

Last year, about 85,000 of his employees took part in the game, out of which two took home a prize of $50,000 for the closest guesses.

According to Buffett, more than 100,000 of his employees are like to take part this year.

There are 68 teams in the NCAA to choose from, thus creating a possibility of 282 trillion Sweet 16 variations to form.

February 28, 2017

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