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Warren Buffett backs $1 billion March Madness perfect bracket challenge

Jan 21, 2014, 12:44 PM EDT

You may know Cleveland Cavaliers owner Dan Gilbert best for his use of  an awful font on the his team’s website when LeBron James decides to jump ship and head to the Miami Heat. Or perhaps you know him best for his son, that kid with the bowties.

Here’s another thing worth remembering him for: the Cavs owner has teamed up with Warren Buffett to offer a remarkable $1 billion — yes, BILLION — prize to anyone who can pick a perfect March Madness tournament bracket.

CNBC has the details:

Buffett’s Berkshire Hathaway will be insuring the grand prize. It would be shared by any qualified contest participant who predicts the winners of every game in the men’s college basketball tournament, which is set to begin on March 18. The billion dollars would be paid in 40 annual installments of $25 million each.

Gilbert will use the opportunity to promote his Quicken Loans business with 20 of the closest people to a “perfect” bracket also receiving $100k for a new home loan.

>>Buffett backs $1 billion March Madness prize offer [CNBC]

  1. dubeedubeedu - Jan 21, 2014 at 6:36 PM

    They can make the check out to Mr dubeedubeedu. Now time to study some college b-ball.

  2. BenE. - Jan 21, 2014 at 8:03 PM

    Some chick with no basketball knowledge who was invited into the pool by your pussy-whipped friend will win this.

    • AndrewM - Jan 21, 2014 at 11:19 PM

      Nailed it.


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