Warren Buffett has held a March Madness bracket contest for employees of Berkshire Hathaway (BRK.A) and its subsidiaries, offering $1 million—annually—to anyone who successfully predicts the winners of the first 48 games in the NCAA tournament.

Billionaires are offering millions of dollars in prizes for the lucky basketball fan who can select a perfect March Madness bracket.

Buffett issues a March Madness bracket challenge to all employees who work at Berkshire Hathaway companies. If you can put together a perfect bracket, Buffett will award you $1 million. The only problem is that perfect brackets don't exist. It's basically impossible to do. So, unfortunately, Warren has to keep his money.

Berkshire Hathaway has increased its holdings in Japan's five biggest trading houses, according to Monday regulatory filings.

Berkshire Hathaway increased its holdings in Japan's five biggest trading houses after agreeing to gradually lift its holdings beyond 10%.