“If they can get to the Sweet 16, if there’s only one of them, whoever it is, he or she gets a million dollars a year for the rest of their life,” Buffett said on
CNBC. He further added that if no one wins the prize, in that case he will reward a $100,000 prize to anyone who would get closest in guessing the winners in the NCAA men’s college basketball championship, the report added.
Buffett started this contest in 2014, when he promised $1 billion to a winner who had guessed 64 teams correctly in basketball games. The game was open to the public, and he had partners in it, but since 2015 he’s taken the contest in-house.
According to a report of Financial Express in 2016 two staff that tied got $50,000 out of the contest price. One of them knew a lot about basketball, the other didn’t. Last year, there were 85,000 entries, but this year he expects more than 1,00,000 employees to participate out of a total of 3,67,700.
Also read: Warren Buffett bought about 120 million Apple shares in 2017
Warren Buffett, nicknamed the Oracle of Omaha, is an American and one of the most successful investors and philanthropist in the world. He is also one of the richest people in the world with a real-time net worth of $79.5 billion as per Forbes. Buffett has also publicly opposed the policies, actions and statements of US President, Donald Trump.
Buffett was recently in news for purchasing about 120 million shares of Apple Inc. in 2017. Berkshire revealed in its annual report on Saturday that its massive stake in Apple stock, as of December 31, had risen to 61.2 million shares for a total of $6.75 billion.
 "Warren Buffett's offer: A million $ per year for the rest of your life!")
