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Buffett shared his diagnosis with Berkshire investors in an open letter, writing he has early stage prostate cancer and that his condition is "not remotely life-threatening or even debilitating in any meaningful way," said USA Today.

According to the Washington Post, Stage 1 prostate cancer places Buffett in the tumor category of small and least aggressive.  In the 10 years following diagnosis, men have a less than 10 percent chance of dying from prostate cancer.

Buffett's cancer was detected through routine screening, said Reuters.  His delayed treatment suggests his case is non-urgent.

The LA Times said despite Buffett's non-threatening diagnosis, the pressure for the investor to name his successor will intensify.  A letter to share holds in February revealed Buffett has already chosen an executive who is supported by Berkshire's board of directors. 

However, the heir apparent has yet to be informed of his succession.

"One of the biggest drags on the stock have been questions about succession," said Joe Magyer, an analyst at Motley Fool.  "This definitely pours gasoline on the fire.  Even if Buffett comes out perfectly healthy, it's going to be a monkey on the back of the stock for a long time."

Despite the rumors and his diagnosis, Buffett has given no indication of stepping back from his position at Berkshire, said the Wall Street Journal.

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