[QODLink]
Americas
Warren Buffett diagnosed with prostate cancer
US billionaire to undergo radiation treatment, but tells shareholders condition is "not remotely life-threatening".
Last Modified: 18 Apr 2012 05:14
Warren Buffett was presented with the Medal of Freedom in 2010, the highest US civilian award [AP]

Billionaire investor Warren Buffett has been diagnosed with early-stage prostate cancer, but said in a statement to his company's shareholders that the condition was "not remotely life-threatening".

The 81-year-old chairman of the Berkshire Hathaway conglomerate said in a letter to shareholders that the two-month radiation treatment he and his doctors planned to start in mid-July would restrict his travel but should not otherwise affect his routine.

"I feel great, as if I were in my normal excellent health," said Buffett.

Buffett, one of the world's richest people, was diagnosed on 11 April and has since undergone a CAT scan, bone scan and MRI. He said the tests showed no indication of cancer elsewhere in his body.

Buffett's stake in Berkshire Hathaway was worth $44.6bn as of Tuesday's closing prices before the announcement.

In February Buffett told shareholders that Berkshire's board had chosen someone to succeed him as chief operating officer in the future and he said there were two backup candidates as well.

The tycoon said the unnamed chosen successor and back-ups had not been told they were in line to take over the company.

Buffett has previously said his son Howard, a member of Berkshire's board, would make an ideal chairman.

Buffett's success as an investor and straight-talking style have made him a well-known figure in the US, where his name has recently been associated with Barack Obama's plans to raise taxes for the wealthy , supported by Buffett but blocked this week by the US Senate.

Despite his wealth, Buffett still works in his hometown of Omaha and lives in a house he bought in 1958.

Prostate cancer is the most common cancer in men, as more than 241,000 new cases are expected to be diagnosed in the United States this year.

According to the National Cancer Institute, the five-year survival rate for US prostate cancers found at an early, localised stage is nearly 100 per cent. Many prostate cancer patients die of something else before the cancer kills them.

"I will let shareholders know immediately should my health situation change," Buffett said. "Eventually, of course, it will; but I believe that day is a long way off."

Source:
Agencies
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
A political power struggle masquerading as religious strife grips Nigeria - with mixed-faith couples paying the price.
The current surge in undocumented child migrants from Central America has galvanized US anti-immigration groups.
Absenteeism among doctors at government hospitals is rife, prompting innovative efforts to ensure they turn up for work.
Marginalised and jobless, desperate young men in Nairobi slums provide fertile ground for al-Shabab.
The Khmer Rouge tribunal is set to hear genocide charges for targeting ethnic Vietnamese and Cham Muslims.
join our mailing list