Warren Buffett, the chairman and CEO of Berkshire Hathaway, shock the world on Tuesday by announcing that he has been diagnosed with stage one prostate cancer.
The 81-years-old investor will now undergo daily radiation treatments starting mid-July for about two-months. Sources said that he might be unable to travell when he is under medical treatment.
Buffett expressed the confidence of overcoming the Big C (cancer). Doctors attending to Buffett said that since the cancer was detected at a very early stage, the situation may not be that severe. They added that Buffett faces good odds even at his age.
Berkshire Hathaway chief executive, Buffett, in his letter to his stakeholders said, "my condition is not remotely life-threatening or even debilitating in any meaningful way." He added that he took a number of medical tests, including bone scan, MRI and CAT scan and results showed that he had no cancer elsewhere in his body.
"Any man diagnosed with stage 1 prostate cancer has an excellent long-term prognosis," Reuters quoted Jonathan Wright as saying, a urological oncologist at the University of Washington and the Seattle Cancer Care Alliance.
Other medical experts said that during the time of radiation treatments, Buffett may not have to endure any major side effects as the procedure is "extremely focused". However, developing temporary problems in urinal, bowel function and mild fatigue can happen.
The revelation of cancer by Buffett has increased the curiosity among the Berkshire Hathaway shareholders by many folds over his successor.
The exemplary investor wrote to his shareholders last February saying that his successor has been chosen though hedeclined to disclose the name of the candidate. Buffett also said that "even the chosen one does not know about his decision."
Considering Buffett's age, many questioned the need of treatment for him. Many felt that people at this age are most unlikely to survive the cancer treatment. However, the medical professionals blighted such speculations as they said "the cancer is in a very curable stage."
Buffett is known for his heedful and smart investments. In 2008, he was named the world's richest man but slipped to third place in 2011.
The investor's guild across the world never misses to keep tabs on Buffett's move in the market. Thus, he his famously known as "Oracle of Omaha" as he lives in Omaha, Nebraska.