Berkshire Hathaway employee wins $1 million in Warren Buffett’s March Madness bracket challenge
By: Yun Li - CNBC.comFor the first time in nearly 10 years, a Berkshire Hathaway employee claimed Warren Buffett’s $1 million grand prize for his company’s NCAA bracket contest.
An anonymous employee from aviation training company FlightSafety International, a subsidiary of Buffett’s Berkshire, won the annual internal bracket contest after correctly calling 31 of the 32 games in the first round of the men’s basketball tournament dubbed March Madness, according to a statement.
The 94-year-old Oracle of Omaha was finally able to give out the big prize after relaxing the rules multiple times since the competition’s inception in 2016. Originally, Buffett, a Creighton basketball fan, set out to award anyone who could perfectly predict the Sweet 16.
Then, in 2024, after the $1 million jackpot remained unclaimed, participants were given the advantage of waiving the results of the eight games among the No.1 and No. 2 seeds. Still, nobody cracked the code.
This year, the rules were changed again so anyone who picks the winners of at least 30 of the tournament’s 32 first-round games would be eligible to win the prize.
In fact, 12 Berkshire employees guessed 31 of the 32 first-round games correctly. The $1 million prize went to the person from that group that picked 29 games consecutively before a loss. That winner went on to pick 44 of the 45 games correctly.
The other 11 contestants are getting $100,000 each.
