What’s a perfect March Madness bracket worth? In Warren Buffett’s mind, about $1 billion.

According to Rob Wile of Business Insider, Buffett’s company, Berkshire Hathaway, has teamed up with Cleveland Cavaliers owner and Quicken Loans founder Dan Gilbert to offer college basketball fans a shot at becoming a billionaire.

The offer is simple: If you fill out a flawless, twinkling NCAA men's basketball March Madness bracket—you win...

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