Nike’s founder, a Walmart heiress, and the owner of the Dallas Cowboys are among the billionaires bankrolling March Madness Sweet 16 schools

• More than a dozen billionaires have made major donations to colleges that host the nation’s elite basketball programs. Among them are Nike’s founder, a Walmart heiress, and the owner of the Dallas Cowboys. Several of the powerhouse teams bankrolled by billionaires are favored to win in the first March Madness round starting Thursday.

Considering the sports entertainment industry is estimated to be worth $2 trillion, it’s no surprise America’s ultrawealthy are eager to throw...