The winner of Warren Buffett's March Madness office pool could get $1 million a year for life

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The winner of Warren Buffett's March Madness office pool could get $1 million a year for life
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The winner of Warren Buffett's March Madness office pool could get $1 million a year for life via CNBCMakeIt

Your office's March Madness pool most likely pales in comparison to what billionaire Warren Buffett is offering his employees if they can predict which teams make this year's Sweet 16 of the men's NCAA tournament.

"All you have to do is get through the first bracket to win $1 million, assuming nobody else wins at the same time—then you split the million," Buffett told Becky Quick on CNBC's"Squawk Box." However, in recent years, Buffett has tried to make his March Madness challenge a little bit easier while limiting the contest to his many employees. Still, no one has yet claimed the big prize from Buffett.

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