Warren Buffett Doubles the Stakes of $1 Million NCAA Bracket Challenge — But There’s a Catch
If a Berkshire Hathaway employee wins Warren Buffet's NCAA bracket challenge this year, they could be getting $2 million
If anybody wins Warren Buffett’s NCAA Bracket challenge this year, they could walk away with $2 million.
While the 87-year-old Berkshire Hathaway CEO has offered $1 million every year for life to the employee who can pick a perfect NCAA bracket through the tournament’s Sweet 16 round before, this year there’s a chance the lucky winner could double their prize.
But only if a team from Buffett’s home state of Nebraska wins the championship game.
“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,” Buffett — who is worth over $70 billion — said on CNBC in February.
While one of his Berkshire Hathaway employees has yet to walk away with the big prize, a few of them have won Buffett’s consolation prize — $100,000 for the bracket which stays perfect for the longest — over the years.
Last year, West Virginia steel worker Dwayne Johnson walked away with the money after correctly picking the winners of 31 out of the tournament’s first 32 games. And in 2016, two lucky winners split the $100,000 after coming up with the first 15 winners.
Buffett first began his contest in 2014, offering anybody — and not just employees of his company — a chance to win a $1 billion prize. After nobody won that year, the CEO took a year off from the bracket competition before bringing it back in 2016 as a strictly Berkshire Hathaway enterprise.
The 2018 NCAA Division I Men’s Basketball Tournament kicks off on Tuesday, March 13.