Warren Buffett holds $1 million Sweet 16 challenge - WAFF-TV: News, Weather and Sports for Huntsville, AL

Warren Buffett holds $1 million Sweet 16 challenge

Warren Buffett announced a contest where an employee can win $1 million a year for correctly predicting the Sweet 16. (Source: CNN) Warren Buffett announced a contest where an employee can win $1 million a year for correctly predicting the Sweet 16. (Source: CNN)

(RNN) - Warren Buffett has made an enticing offer to employees of his Berkshire Hathaway company.

During a CNBC interview, Buffett revealed that one of his employees will win a $1 million every year for the rest of their lives if they can correctly predict the Sweet 16 in the 2017 NCAA Basketball Tournament.

If no employee correctly predicts the Sweet 16, then whoever goes the furthest in the tournament without a busted bracket will receive $100,000 as a consolation prize.

Buffett has upped the ante on what has become a traditional contest within the company.

Last year, 85,000 of the estimated 367,700 Berkshire employees entered the contest.

That contest ended in a tie between two employees who won $50,000 each.

In 2016, Warren Buffet and QuickenLoans created a $1 billion perfect bracket challenge, done through Yahoo.

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