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  • Local Man Accused Of Diverting Mason County River

    riverbedThe state attorney general's office has accused a 55-year-old Mason County man of using an excavator to fill and divert the Tahuya River without a permit. William Cayo Sr. was charged in Mason County District Court on Thursday with three misdemeanor… Read More +

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  • Inslee Looks To Election For Climate Allies

    oilrefineryWashington Gov. Jay Inslee is likely in 2015 to roll out ambitious proposals to reduce carbon pollution such as a bill to cap greenhouse gases, but unless Democrats can make gains in the state Senate on Tuesday, he'll face a tougher… Read More +

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  • Seattle Picks Up 2015 Option On Iwakuma

    Iwakumajune10The Seattle Mariners will have right-hander Hisashi Iwakuma under contract for the 2015 season. The Mariners announced Thursday that Iwakuma's $7 million option was vested based on his on-field performance. Iwakuma missed the first month of the 2014 season but went 15-9 with a 3.52 ERA in 28 starts. In 91 career games with Seattle, Iwakuma is 38-20 with a 3.07 ERA.

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What Billionaires Wager During March Madness

b_250_0_16777215_00_images_obgrabber_2014-01_65c8f31dab.jpgiStock/Thinkstock (NEW YORK) -- How much are billionaires Warren Buffett and Cleveland Cavaliers owner Dan Gilbert betting each other during March Madness? Like the fictional and very wealthy Duke brothers' infamous $1 bet in the 1983 film Trading Places, probably nothing at all. "I doubt there's going to be any money wagered," said the spokesman for Gilbert's company, Quicken Loans, adding that the two business executives might have a "goofy prize for fun."

On Tuesday, Quicken Loans announced in a marketing ploy that it is offering $1 billion for a perfect bracket completed through this year's men's college basketball championship tournament, commonly known as March Madness. Buffett's investment company Berkshire Hathaway is offering an additional $2 million in prizes for 20 of the most accurate brackets. The pair plan to fill out their own brackets and have a side bet on the tournament, The New York Times reported.

But just because they are some of the richest people in the country, they aren't going to go squandering it all on the NCAA basketball tournament.

Warren, 83, chairman of Berkshire Hathaway, is worth around $58.5 billion, according to Forbes, and is one of the most philanthropic people in the world. True to his charitable history, his company is donating an additional $1 million to educational non-profits in Detroit and Cleveland. Gilbert, 51, is chairman of online lender Quicken Loans and has owned the Cavaliers since 2005. His net worth is about $3.9 billion, according to Forbes.

"As of right now no brackets have been filled out by Dan or Warren," said a Quicken Loans spokesman. "It was just something fun they were talking about doing around the office in future."

Buffett and Berkshire Hathaway did not respond to a request for comment.

Copyright 2014 ABC News Radio

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