Buffett diagnosed with cancer

Billionaire investor Warren Buffett has been diagnosed with prostate cancer.

The 81-year-old wrote in a letter to shareholders on Tuesday that he has Stage 1 prostate cancer and will begin radiation treatments in mid-July. "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," he wrote. He said he would inform shareholders immediately should his condition worsen, but added: "I feel great - as if I were in my normal excellent health - and my energy level is 100%."