Warren Buffett Talks $1 Million March Madness Challenge And His Jump Ball With LeBron James

Thousands of Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) employees are hoping 2017 is the year they become millionaires. But they aren’t buying up shares of Berkshire stock to get there. Instead, they are filling out a March Madness brackets.

Warren Buffett joined The Dan Patrick Show on Tuesday to promote Berkshire’s NCAA tournament bracket challenge. Any Berkshire employee who correctly picks the entire Sweet 16 correctly will receive $1 million per year for life. In addition, employees can get $1 million for picking the entire first round perfectly, and the employee who lasts the longest with a perfect bracket will receive $100,000.

Buffett Vs. LeBron

Buffett, a big basketball fan, recalled a time when he and LeBron James squared off for a jump ball.

“We had a jump ball, and we both went up for it,” Buffett said. “He got it, went the length of the court and dunked it. Then he turned around and looked at me, and I was just going up at that time.”

When Patrick asked if Buffett would ever invest in a pro sports team, Buffett said he might if he lived in a city with pro sports teams. However, his home town of Omaha is most closely associated with Creighton basketball and the University of Nebraska football.

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Image credit: Keith Allison, Flickr