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Berkshire Hathaway Chairman and CEO Warren Buffett applauds at a rally for Democratic presidential candidate Hillary Clinton at Omaha North High Magnet School in Omaha, Neb., Monday, Aug. 1, 2016. (AP Photo/Andrew Harnik)

Warren Buffett promised $1M a year for life to any employee who gets the Sweet 16 right

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Warren Buffett, multibillionaire CEO of Berkshire Hathaway, promised $1 million a year for life to any of his employees who can perfectly predict the Sweet 16 in the upcoming March Madness NCAA basketball tournament.

Buffett revealed the massive prize pool during a CNBC interview on Monday. There's also an extra $100,000 for whoever has the most perfect bracket among all Berkshire Hathaway employees. 

He expects more than 100,000 entrants in the office pool. 

Warren Buffett 2.jpg
Berkshire Hathaway Chairman and CEO Warren Buffett speaks at a rally for Democratic presidential candidate Hillary Clinton at Omaha North High Magnet School in Omaha, Neb., Monday, Aug. 1, 2016. (AP Photo/Andrew Harnik)

This isn't Buffett's biggest prize. In 2014, Quicken Loans, a subsidiary of Berkshire Hathaway, offered $1 billion for getting an entire bracket correct. The odds of that are about 1 in 9.2 quintillion. No one claimed the prize.

This is way harder than it sounds

This time around, employees only have to get the first two rounds right. But for context, in 2015, only 14 brackets of the 11.6 million ESPN Tournament Challenge brackets got the Sweet 16 correct

So a bracket this good would be extremely lucky. 

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