Investor Warren Buffett revealed today in a letter to shareholders that he has been diagnosed with stage I prostate cancer, MSNBC is reporting. Buffett also revealed that his illness isn’t life-threatening, and he will begin a two-month treatment of daily radiation in mid-July.
While Buffett’s travel will be restricted during his radiation, his daily routine won’t be altered otherwise. He added that he’ll let shareholders know immediately if his health should change. He said he knows that day will come eventually, but he believes that day is a long way off.
The news comes as speculation has risen over who would run Berkshire Hathaway if Buffett was no longer able to. He said in February that he had chosen someone to succeed him as chief executive, but didn’t name the person. Buffett told CNBC on Tuesday that his succession plan hadn’t changed with the diagnosis.
The news of Buffett’s cancer comes as he made other headlines, for his call that the rich should pay more taxes. His so-called Buffett rule, which the Senate rejected yesterday, came after he wrote an editorial in the New York Times asking that lawmakers stop coddling the rich.
Written by: Karen Benardello