Steel Worker Wins $100,000 in Warren Buffett’s March Madness Contest

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Steel Worker Wins $100,000 in Warren Buffett’s March Madness Contest

The employee picked the winners of the college basketball tournament's first 29 games.


A steel worker under the employ of one of Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) companies has won $100,000.

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Dwayne Johnson is a steel worker for one of the companies that was recently acquired by Warren Buffett’s Berkshire Hathaway Inc. He was able to correctly guess the winners of the first 29 games of the NCAA’s March Madness tournament. In all, he correctly picked the winners of 31 out of 32 first-round games.

Johnson is a welder for Berkshire Hathaway Inc.’s Precision Castparts. The steel worker lives in West Virginia and is 26 years old. If he had been able to guess the outcome of all 32 games correctly, he would have won $1 million from Warren Buffett.

The contest this year saw 96,108 employees of Berkshire Hathaway Inc. taking part. The company employs over 350,000 employees. Warren Buffett says that the contest will continue and he believes that winners of the $1 million prize will show up from time to time, reports the Associated Press.


“If they can get to the Sweet 16, if there’s only one of them, whoever it is, he or she gets a million dollars a year for the rest of their life,” Warren Buffett told Fortune last month when news about the competition between employees started to spread. To win the $1 million a year for life, the employee would need to correctly guess all 32 first-round winners and all 16 second-round winners.

This isn’t the first time that Warren Buffett has held his March Madness tournament for Berkshire Hathaway Inc. employees. The event first took place in 2014 and it was also held last year. If no one claims the $1 million prize, the person that gets the furthest wins $100,000, which is what happened with the steel worker from West Virginia.

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This article is by William White of InvestorPlace.

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This article is from InvestorPlace, not the Kiplinger editorial staff.