Warren Buffet Has Prostate Cancer!

April 18, 2012 by  
Filed under Prostate Cancer

On Tuesday April 17, a statement from Warren Buffet to shareholders of his conglomerate revealed he has been diagnosed of stage 1 prostate cancer. This is a kind of cancer that affects the prostate gland in men. This news is shocker for the simple reason that cancer diseases metastasize and could become life threatening. However, there is a great chance of survival now for this Billionaire Investor who is the Chairman of Berkshire Hathaway Inc.  Many people that have been diagnosed in past of early stage cancer of the prostate have been successfully treated.

With this latest report on the present health of the 81 year old Mr Buffet, many will want to assess what the immediate future holds for this financial icon.  A recent article published in the website of the Wall Street Journal (WSJ) provides  insights on the possible implications of this health news for  Mr. Buffet and the leadership of Berkshire Hathaway Inc.  The article reports:

Billionaire investor Warren Buffett on Tuesday disclosed that he has prostate cancer and indicated he will keep running his Berkshire Hathaway Inc. BRKB +1.35% conglomerate as he receives treatment in the coming months.

In a letter to shareholders of the Omaha, Neb., company, Mr. Buffett, 81 years old, disclosed he has stage 1 prostate cancer, an early form of the disease that is treatable. He said he was told by his doctors that his condition “is not remotely life-threatening or even debilitating in any meaningful way.”

The Berkshire chairman and chief executive said he received the diagnosis last Wednesday following a routine check and underwent other tests since that “showed no incidence of cancer elsewhere in my body.” He expects to begin two months of daily radiation treatment in mid-July, which will restrict his travel “but will not otherwise change my daily routine.”

The statement indicated that Mr. Buffett, who has run Berkshire for nearly half a century, doesn’t expect to step down from his dual roles managing the conglomerate and overseeing the bulk of its investments.

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He couldn’t be reached for comment late Tuesday.

Medical experts said Mr. Buffett’s long-term prognosis is likely good, given that his cancer is in an early stage. Hundreds of thousands of Americans are diagnosed with prostate cancer early, and early forms of the disease are treatable. The American Cancer Society says about 242,000 new cases of prostate cancer will be diagnosed in 2012, and predicts about 28,000 deaths.

But the development may raise more questions about closely guarded succession plans for Berkshire’s leadership, a concern that has weighed on the company and its stock price over the past few years. The announcement comes just three weeks ahead of the company’s annual meeting, an extravaganza dubbed “Woodstock for Capitalists” that in recent years has drawn crowds exceeding 30,000 for a five-hour question-and-answer session with Mr. Buffett and other festivities.

Mr. Buffett said in February that the company’s board has identified an individual to succeed him as CEO and two backup candidates. But he hasn’t disclosed the identities of any of the three individuals and has said the would-be successor hasn’t been told that he is the leading candidate for the job. Mr. Buffett has separately hired two individuals that he says will oversee Berkshire’s more-than-$100 billion investment portfolio after he retires or dies. Read the remaining part of this article here

Finally, prostate cancer affects many men and especially those are 50 and above. Other factors that are linked with the cause include: ethnicity, diet, and genetics. For most medical experts, it is not surprising that this condition has was made, seeing that Warren is well advanced in age. However, there is hope that Mr. Buffet can survive this condition if the treated effectively. Since the prognosis for treatment is good, its just important to wish this Billionaire a very successful treatment in the coming months. Treating prostate in the early stage (as it has been with Mr. Buffet) is important so as to increase the chance of survival for the victim.

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