Buffet offers $1M a year to employee correctly predicts March Madness

Billionaire Warren Buffett is upping the ante on this year's March Madness challenge.

He's offering $1 million a year for life for any employee who fills out a perfect bracket through the Sweet 16.

All employees of his financial firm Berkshire Hathaway, or its subsidiaries are eligible.

Buffett famously made a similar offer two years ago in which he offered $1 billion to anyone who could pick a perfect bracket, but there were no winners.