Berkshire Hathaway Inc. News Release
March 15 2021 - 3:02PM
Business Wire
Berkshire Hathaway Inc. is pleased to announce that it will once
again fund a “bracket contest” for employees of Berkshire Hathaway
and its greater than 50% owned subsidiaries. Berkshire held its
initial bracket contest in connection with the 2016 NCAA Men’s
Division I Basketball Tournament. Additional contests were held
each year until 2020 when the NCAA cancelled the tournament due to
the pandemic.
At a minimum, Berkshire will be awarding $100,000 to the
employee who picks the winner of the most games correctly prior to
picking a game incorrectly. If an employee picks all first round
games correctly (all 32 games played on Thursday March 19th and
Saturday March 20th), the prize will be increased to $1 million.
However, if an employee is able to pick all first and second round
games correctly, (all 48 games played between Thursday March 19th
and Monday March 22nd), the prize will be increased to an annuity
paying $1 million a year for the remaining life of the employee.
Finally, if Berkshire’s favorite basketball team, Creighton, is one
of the last four teams remaining in the tournament, the winner’s
prize will be doubled.
Berkshire’s Chairman and CEO, Warren Buffett hopes that this
year’s winner will be awarded one of the larger prizes and receives
the Creighton “bump”. In past years, there have been a number of
participants who have correctly picked 31 winners of the 32 initial
games.
Berkshire Hathaway and its subsidiaries engage in diverse
business activities including insurance and reinsurance, utilities
and energy, freight rail transportation, manufacturing, retailing
and services. Common stock of the company is listed on the New York
Stock Exchange, trading symbols BRK.A and BRK.B.
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version on businesswire.com: https://www.businesswire.com/news/home/20210315005747/en/
Marc D. Hamburg 402-346-1400
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