Buffett Dodges $1B Payout By End Of Friday's NCAA Tourney Games
It took "less than two full days of play" for Berkshire Hathaway CEO Warren Buffett to win his bet that "no entrant in a Quicken Loans contest would predict the winner of each game" in the NCAA Tournament. Two upsets -- Dayton defeating Ohio State and Mercer topping Duke -- "wiped out" 99% of the entries. The contest was announced in January and "proved a publicity bonanza" for both Buffett and Quicken (BLOOMBERG.com, 3/22). It only took 25 games "for everyone to be eliminated" from the contest. While no one won the $1B grand prize, the "top 20 scores will still each get $100,000" (AP, 3/21).