First-in-a-decade: Warren Buffett employee wins $1M in 'March Madness' contest
What's the story
In a stunning turn of events, an employee of Berkshire Hathaway's subsidiary FlightSafety International has won the coveted $1 million prize in Warren Buffett's annual 'March Madness' NCAA bracket challenge.
The unnamed winner correctly predicted 31 out of 32 first-round games in this year's men's basketball tournament.
This is the first time in nearly a decade that someone has won this grand prize.
Rule adjustments
Buffett's evolving rules for the contest
Buffett, the 94-year-old CEO of Berkshire Hathaway, originally sought to reward anyone who could accurately predict the Sweet 16.
However, after the $1 million jackpot went unclaimed in 2024 (despite relaxed rules allowing participants to ignore results of eight games between top seeds), he revised them again this year.
The new criteria required participants to correctly predict winners of at least 30 out of the tournament's first-round games.
Prize distribution
Multiple employees match predictions
This year, 12 Berkshire Hathaway employees accurately predicted 31 out of the first-round games.
However, the $1 million prize went to the person who made consecutive correct predictions of 29 games before losing.
This winner also correctly predicted 44 out of 45 games thereafter.
The other contestants in this group were each awarded a consolation prize of $100,000 for their impressive predictions.