Warren Buffett is making it a bit easier for any of his 361,270 employees at Berkshire Hathaway $BRK.B to win some money during the NCAA March Madness tournament this year.
Buffett announced during an interview with CNBC that he would be offering 2 new prizes for the US men’s college basketball tournament that takes place next month.
The Berkshire employee who predicts the most consecutive number of games correctly will win a $100,000 award (if some employees are tied, they’ll split the winnings).
But here’s the real prize: if anyone’s bracket (a diagram that keeps track of someone’s March Madness picks) remains perfect through the Sweet 16—when only 16 teams remain—they’ll win $1 million a year for the rest of their life.
This isn’t the first time the “Oracle $ORCL of Omaha” has offered a lucrative prize with the March Madness tournament, but the odds of winning Buffett’s prize are in theory a bit easier. Last year, Buffett offered a $1 billion prize for anyone who had a “perfect bracket,” wherein he or she correctly predicted the winner of all of the tournament’s 63 games. FiveThirtyEight said there was a 1 in 1,610,543,269 chance of getting a perfect bracket last year.
With Buffett’s new prize, employees only need to predict the first two rounds, or 48 games out of 63, correctly.
