Buffett diagnosed with prostate cancer

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Warren Buffett, 81, is an American business magnate, investor, and philanthropist. Photo - magazine.joinsmsn.com

Renowned investor Warren Buffett has said he has stage 1 prostate cancer. According to media reports, his present condition “is not remotely life-threatening or even debilitating in any meaningful way.”

Buffett, the world’s third-richest man, said he has had plenty of medical examinations, including a CAT scan, bone scan and an MRI. The medical tests have shown no incidence of cancer elsewhere in his body.

The radiation treatment, which is set to start in mid-July, would restrict his travel but will not have an impact on his daily routine.

“I feel great – as if I were in my normal excellent health – and my energy level is 100 per cent,” he said while speaking to reporters.

Reports suggest the cancer was detected after a medical condition prompted a biopsy.

Buffett said he will give details to his shareholders immediately should his health situation changes, adding, “Eventually, of course, it will; but I believe that day is a long way off.”

The Berkshire Hathaway Inc CEO, for the first time, said in his yearly letter to his shareholders in February that he had chosen a successor.

Buffett, however, did not disclose the name yet. Speculations are that Ajit Jain, India-born long-time aide of Warren Buffet and head of the company’s insurance operations, is the frontrunner.

Berkshire shares saw a jump of 1.4% Tuesday but were down 1.8% in post-market trading.

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