Win A Million Dollars A Year For Life: Warren Buffett's Challenge For Employees

Employees of Berkshire Hathaway Inc, now may be a good time to start following college basketball. Warren Buffett, the chairman and chief executive of the multinational conglomerate is giving his employees a chance to win $1 million every year for life. All they need to do is guess which teams will make it to 'Sweet 16' of the National Collegiate Athletic Association's (NCAA) men's basketball championship. The billionaire investor made the announcement during an interview with CNBC on February 27. It's because of this announcement that Warren Buffett is currently trending on Facebook.

"We also have a prize of $100,000 for whoever goes the furthest," Mr Buffett told CNBC. "Last year, we had two fellows that tied. One of them knew a lot about basketball; the other didn't know anything about basketball, but they each got $50,000 out of it."

Mr Buffett reportedly started the contest back in 2014. He also held it last year and received over 85,000 entries. He hopes the number of participants will be higher this year.

Mark Ablowitz, a professor of applied mathematics at the University of Colorado Boulder, told Fortune there are 282 trillion likely variations of the 'Sweet 16'. Wow! Are the stakes high or what!

The tournament is slated to begin on March 14.

Wouldn't you like to have a similar contest in your office? We know we would.

Let's wait and watch to see who - should an employee be lucky enough to make the right guesses - wins.