For a decade, Warren Buffett has tried to award $1 million to a Berkshire Hathaway employee during the NCAA March Madness tournament. This year, the rules were updated, making it easier for contenders, with the goal of fulfilling Buffett's wish to give away the money while still serving as chairman. An employee from FlightSafety International won with 29 correct first-round picks, and due to a close race among other strong contenders, 12 participants nearly succeeded. In this new format, even runners-up received $100,000 each, further spreading the excitement.
Warren Buffett has aimed to give away $1 million to a Berkshire employee during March Madness but only succeeded this year, easing the previous challenges.
Buffett reflected on his advancing age, expressing a desire to give away the million before stepping down from his role as chairman.
This year’s winner, who selected 29 out of 32 games correctly, emerged from a strong field of competitors, showcasing the changes in contest rules.
Marc Hamburg, Berkshire’s CFO, highlighted that 12 brackets had almost perfect entries this year, leading to an engaging tiebreaker process.
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