Warren Buffet, popularly known as the "Oracle of Omaha," is insuring a Quickens Loan promotion that will award $1 billion to anyone who can predict a perfect bracket for the NCAA men's basketball championship.
If someone were to win, the prize will be paid for by Buffet's Berkshire Hathaway. Buffet said the winner would get the billion dollars over 40 years in annual payments of $25 million, or they could take a lump-sum payment of $500 million.