Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research determine where and how companies may appear. Learn more about how we make money.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

By Alix Langone
March 12, 2018
Warren Buffett attends the  Becoming Warren Buffett  World Premiere at The Museum of Modern Art on January 19, 2017 in New York City.
Warren Buffett attends the "Becoming Warren Buffett" World Premiere at The Museum of Modern Art on January 19, 2017 in New York City.
J. Kempin - Getty Images

Warren Buffett is back at it.

The generous 87-year-old billionaire is once again making his annual $1-million-a-year-for-life NCAA bracket offer to employees of his company, Berkshire Hathaway. If they fill out a perfect March Madness bracket, they’ll get $1 million every year for the rest of their lives, no strings attached.

The catch? No one has ever won the grand prize. The odds of winning are almost impossible and could be as high as 1 in 128 billion, according to NCAA.com.

For employees of Berkshire Hathaway there is some hope of winning, though. If you work for Buffett, you can still win $100,000 for having the bracket that stays intact the longest. A West Virginia employee took home the $100,00 prize last year after correctly filling out 31 of the 32 possible predications.

When Buffett, one of the richest people in the U.S. (and the world), originally started the contest in 2014, it was open to the public. The prize that year was even higher at $1 billion, and the cash was sponsored by Berkshire Hathaway and Quicken Loans, but there was no winner, according to Fortune.

Buffett also made a tweak to his 2018 March Madness bracket challenge. He raised the stakes, telling CNBC he will give away $2 million a year instead of $1 million if “Creighton or Nebraska ends up winning the tournament,” according to CNN Money.

There are 68 teams competing in the March Madness tournament this year, which starts on Tuesday, March 13. The 2018 top four seeds are University of Virginia in the South, Villanova University in the East, University of Kansas in the Midwest and Xavier University in the West.

Advertiser Disclosure

The purpose of this disclosure is to explain how we make money without charging you for our content.

Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.

Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.

Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.

Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.

To find out more about our editorial process and how we make money, click here.

EDIT POST