Perfect Bracket Gets You $1B From Quicken, Because Insane Dan Gilbert

Illustration for article titled Perfect Bracket Gets You $1B From Quicken, Because Insane Dan Gilbert

If you needed even more conviction that Dan Gilbert has an Uncle Scrooge-like vault of money that he swims around in, look no further than this recent promo from his Quicken Loans outfit: The mortgage holder is giving away $1 billion to whoever produces a perfect March Madness bracket.

Yes! Finally, Gilbert is spending his money on something other than buying every building in downtown Detroit! And even if your bracket isn't perfect, 20 "imperfect" brackets — those closest to the final outcome — each win $100,000.


The question you're asking about what if there are more than one perfect brackets is answered like so: The $1 billion is divided among those winners. If there is one winner, you can elect to receive the billion over 40 annual payments of $25 million, or one lump sum of $500 million. Doesn't sound like a bad deal either way.

The billion isn't just coming from Gilbert and Quicken's coffers, but also from Berkshire Hathaway and Warren Buffett, who you might remember made a big hubbub about saving Detroit through small businesses or some shit when he visited town a few weeks ago.

Quicken is also donating a hefty $1 million to inner-city kids in Detroit and Cleveland. So if you're stuck in a cycle of poverty, you have to share $1 million between thousands of other kids between two cities. But if you're lucky at basketball, you get a billion. Good to know!


The full rules of the contest where a billion dollars is at stake hasn't been released yet, but you can read more about the contest here. Good luck!

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