Warren Buffett Offers $1 Billion for Perfect 'March Madness' Bracket

Warren Buffett Offers $1 Billion for Perfect 'March Madness' Bracket

Warren Buffett is partnering with Cleveland Cavaliers owner Dan Gilbert to offer $1 billion to anyone who fills out a perfect bracket for the 2014 men’s “March Madness” college basketball tournament.

Buffett’s Berkshire Hathaway and Dan Gilbert’s Quicken Loans will pay out the prize in “40 annual installments of $25 million. If there’s more than one winner they’ll have to share. The winner or winners can also take or split up an immediate $500 million lump sum payment.”

“It is our mission to create amazing experiences for our clients. This contest, with the possibility of creating a billionaire, definitely fits that bill,” Jay Farner, President and Chief Marketing Officer of Quicken Loans, said in a statement. “We’ve seen a lot of contests offering a million dollars for putting together a good bracket, which got us thinking, what is the perfect bracket worth? We decided a billion dollars seems right for such an impressive feat.” 

Quicken will also “award $100,000 each to the contest’s 20 most accurate ‘imperfect’ brackets submitted by qualified entrants in the contest to use toward buying, refinancing or remodeling a home. Quicken will also donate $1 million to inner-city Detroit and Cleveland non-profit organizations.”

Entrants have a 1 in 9.2 quintillion chance to win the $1 billion prize. 

The contest begins on March 3rd and “March Madness” begins on March 18. 

Read More Stories About:

Breitbart Sports


Comment count on this article reflects comments made on Breitbart.com and Facebook. Visit Breitbart's Facebook Page.

Like Breitbart on Facebook

BREITBART VIDEO PICKS

FROM THE HOMEPAGE





From Our Partners