Warren Buffett on Tuesday announced that he has been diagnosed with stage I prostate cancer. Buffet says he was lucky that the cancer was spotted early and he credits a public service announcement (PSA) with making him his decision to get tested.
While two months of radiation testing in mid-July will stop Buffett from traveling he says it “will not otherwise change my daily routine.
In attempting to be as transparent as possible Warren wrote in a letter to shareholders:
“To the Shareholders of Berkshire Hathaway:
This is to let you know that I have been diagnosed with stage I prostate cancer. The good news is that I’ve been told by my doctors that my condition is not remotely life-threatening or even debilitating in any meaningful way. I received my diagnosis last Wednesday. I then had a CAT scan and a bone scan on Thursday, followed by an MRI today. These tests showed no incidence of cancer elsewhere in my body.
My doctors and I have decided on a two-month treatment of daily radiation to begin in mid-July. This regimen will restrict my travel during that period, but will not otherwise change my daily routine.
I feel great — as if I were in my normal excellent health — and my energy level is 100 percent. I discovered the cancer because my PSA level (an indicator my doctors had regularly checked for many years) recently jumped beyond its normal elevation and a biopsy seemed warranted.
I will let shareholders know immediately should my health situation change. Eventually, of course, it will; but I believe that day is a long way off.
Warren E. Buffett”
News of the cancer comes just months after after the 81-year-old announced that his company Berkshire Hathaway had found his successor, although at this time who that successor will be is not known, even to that person. Berkshire Hathaway currently employs more than 270,000 people through its conglomeration of more than 70 worldwide businesses.
While company shares fell by 1.5% upon news of Warren Buffett’s prostate cancer Michael Yoshikami, chief executive of Destination Wealth Management in California tells Yahoo News:
“Despite the news, this is not a reason to sell (Berkshire). Fundamentals are still good at the company and the clear succession plan does give clarity about the future path of the firm.”