ClaimsWarren Buffett

“he or she gets $1 million a year for the rest of their life”

Warren Buffett, Berkshire Hathaway CEO, interviewed on CNBC 27 February 2017 Full transcript of Buffett's interview with CNBC (Feb 2017) (CNBC) archived copy

Promise Their own work or organisation

If exactly one Berkshire employee reaches the sweet 16 in the contest, that employee will receive $1 million a year for life.

Unresolvable The public record could not settle it.

Promise: Commitments to the person's or organisation's own future action, with something to deliver: was it delivered?

Said for an organisation they lead or work for; it counts on both records.

What would count as true or false

This promise depends on a condition: exactly one Berkshire employee reaching the sweet 16 in the 2017 contest. True: exactly one employee reached the sweet 16 in the 2017 contest, and Berkshire awarded and began paying that person $1 million a year for life. Mostly true: the award was made on those terms, but a secondary detail differs, such as when or how payment began. Mostly false: exactly one employee qualified but received only a reduced or different prize (such as a lump sum or a fixed number of years) instead of $1 million a year for life. False: exactly one employee qualified and was not given the lifetime award. If dated reports of the 2017 contest show that no employee, or more than one, reached the sweet 16, the condition was not met and the claim cannot be resolved as true or false. Record it as untested, not as a delivery.

Set before the research began.

Evidence (8)

  1. E1 Warren Buffett's March Madness Offer: $1M A Year For Life For Perfect Bracket CBS News Los Angeles (republishing CNN Money) · 12 March 2018

    “Last year, a West Virginia factory worker won $100,000 for picking 31 of the tournament's first 32 games.”
  2. E2 2019 March Madness Bracket Contest Prize: $1 Million A Year For Life From Warren Buffett Forbes · 14 March 2019

    “Buffett says one employee picked 31 of the 32 first-round games correctly the previous year.”
  3. E3 Warren Buffett Has Millions at Stake on March Madness, but Doesn't Support Sports Betting Casino.org · 15 March 2017

    “Anyone who also has a perfect bracket up to the Sweet 16 will win $1 million a year for life.”
  4. E4 2019 March Madness Bracket Contest Prize: $1 Million A Year For Life From Warren Buffett Forbes · 14 March 2019

    “Buffett says one employee picked 31 of the 32 first-round games correctly the previous year.”
  5. E5 2019 March Madness Bracket Contest Prize: $1 Million A Year For Life From Warren Buffett Forbes · 14 March 2019

    “Last year, no Berkshire employees made it out of the first round alive.”
  6. E6 Berkshire Hathaway employee's almost-perfect first round nets $100,000 ESPN · 21 March 2017

    “Berkshire chairman Warren Buffett told ESPN on Tuesday that the winner, who received $100,000 for going the furthest among the 96,108 brackets entered, missed one game out of the first 32.”
  7. E7 Why Warren Buffett's $1M March Madness contest is a lesson for employers Fox Business · 9 March 2018

    “The company told employees in an internal memo this year that one entrant in the 2017 contest fell just one game short of the $1 million prize.”
  8. E8 Warren Buffett's 2017 March Madness Bracket Contest: $1 Million A Year For Life Forbes · 28 February 2017

    “Any Berkshire Hathaway employee that can pick the Sweet 16 correctly will win $1 million a year for life.”

Reasoning

This promise only applied if exactly one Berkshire employee correctly picked the Sweet 16 in the 2017 contest. ESPN reported on 2017-03-21 that the best of the 96,108 brackets got one of the first 32 games wrong, and that its entrant received $100,000 (E6). Later reports agree that the top 2017 entrant fell one game short of the $1 million prize (E1, E7). No employee reached the Sweet 16, so the condition was never met and the promise was not tested. It cannot be resolved as true or false.

Cite this claim

Warren Buffett, “If exactly one Berkshire employee reaches the sweet 16 in the contest, that employee will receive $1 million a year for life.” (said 27 February 2017). Verdict: unresolvable. Reliability API, claim c_d0d351e07e5d, method 0.1.0+28da144b, dataset release v1.1.2. https://epistacklabs.com/claims/c_d0d351e07e5d

This claim is in dataset release v1.1.2, with the same verdict.

Reply to this claim

For Warren Buffett, or someone speaking for them: a correction or counter-evidence. Replies are read before anything is shown; an approved reply shows your name, role, date, statement and link. Your email address is never shown and is deleted 30 days after the decision (privacy).

More promise claims by Warren Buffett

  1. Delivered on time Promise 18 September 2026
    “I will become Chairman Emeritus and remain a Director.”

    Warren Buffett becomes Chairman Emeritus of Berkshire and remains a director.

  2. Delivered on time Promise 10 November 2025
    “Greg Abel will become the boss at yearend.”

    Greg Abel will become Berkshire Hathaway's chief executive at the end of 2025.

  3. Mostly true Promise 2025
    “Whatever is raised through the sale of the 20 autographed books, I will match.”

    Buffett will personally match whatever is raised through the sale of the 20 autographed "Charlie" books for the Stephen Center.

  4. Resolved false Promise 5 May 2024
    “And that will be the only book next year.”

    Poor Charlie's Almanack will be the only book at the Berkshire meeting bookstore next year.

  5. Delivered on time Promise 27 February 2017
    “We're going to have the same contest among our employees that we had last year.”

    Berkshire will run the same NCAA bracket contest among its employees in 2017 as it did in 2016.

All of them

Verdicts are made automatically; how verdicts are made.