Veteran billionaire investor Warren Buffett says he will continue working despite having been diagnosed with stage one prostate cancer.
Buffett is company chairman and chief executive of conglomerate holding company Berkshire Hathaway, which oversees and manages a number of subsidiary companies.
Shares in the company fell by 1.8 per cent from 120p at 10am on April 18 to 118p at 2pm the next day following the announcement about Buffett’s health.
In a letter to Berkshire Hathaway investors, sent last week, Buffett describes the condition as “not remotely life-threatening or debilitating”.
He says a two-month treatment of daily radiation, which starts in mid-July, will restrict his travel but not his daily routine.
Tests have shown no traces of cancer elsewhere in his body.
Buffett says: “I feel great and my energy level is 100 per cent. I will let shareholders know immediately should my health situation change.”
Values for Vision financial planning director Nick Lincoln says the news should not discourage investors.
He says: “Berkshire Hathaway has a board that works alongside Buffett. It is good news for investors that he has decided to stay on. However, even if he decides to leave, I am not sure that it would have much effect on the running of Berkshire Hathaway.”