March Madness is the annual event that unites the nation. Brackets around the globe are filled out, office pools are created and employees of non Warren Buffett-ran entities sit back and wish the famous billionaire was signing off on their pay stubs.
As is the case every year, Buffett has again issued his annual bracket challenge — again to employees only — promising to pay $1 million a year for life to any Berkshire Hathaway employee who successfully predicts the entire Sweet 16 field.
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Buffett’s consolation prize is sweeter than most winning pots across the world, too. He’s offering $100,000 to the employee who achieves the most correct picks yet again. Last year, he had to pay out $100,000 split between eight employees.
Berkshire Hathaway employs 390,000 individuals, so the odds of winning the challenge is somewhere between slim and nonexistent. But if you’re an employee, the prospect of potentially cashing in $1 million every year for making some correct picks in March Madness is enough excitement to think carefully before submitting your bracket.