Warren Buffett is offering a $1 million March Madness prize

Fortune

The odds of a perfect March Madness bracket are nearly impossible, but Berkshire Hathaway CEO Warren Buffett is trying to make it easier for his employees to win the $1 million prize.

Transcript

00:00Warren Buffett is bringing the March Madness with a $1,000,000 prize for Berkshire Hathaway's pool.

00:05When the pool started in 2014, $1,000,000,000 was up for grabs for whoever correctly predicted the outcome of all 63 games.

00:14And no one won.

00:15Then in 2016, Buffett changed the prize to $1,000,000 if an employee had a perfect bracket for the first two rounds,

00:22and $100,000 to the best bracket if no one was able to guess every game correctly.

00:27Still, no one has won the $1,000,000 jackpot.

00:30But the billionaire plans to make it easier to win the top prize with new parameters this year.

00:35Employees at any Berkshire Hathaway-owned company will need to pick the winners of 30 out of the first 32 games to win the pool.

00:42If no one manages to do that, a $250,000 prize will be awarded to the best bracket of the entire tournament.

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