Sage of Omaha Warren Buffett tells investors he has prostate cancer

Warren Buffett, the world’s most famous investor and head of Berkshire Hathaway, has been diagnosed with prostate cancer.

The 81-year-old told investors the stage one disease is “not remotely life-threatening or even debilitating in any meaningful way”.

Buffett will begin two months of daily radiation doses in mid-July. He said treatment for the cancer – the most common form in men – will restrict his travel but not affect the rest of his routine, adding: “I feel great – as if I were in my normal excellent health – and my energy level is 100 per cent.”

The disclosure will fuel speculation over the identity of his successor at Berkshire Hathaway, which employs more than 270,000 people in more than 70 businesses globally. Buffett said in February he had identified his successor but did not reveal their name and said even the person chosen does not know.

Berkshire shares fell 1.5 per cent in after-hours trading after Buffett’s announcement.