(MSNBC) — Warren Buffett, the billionaire investor known as much for his folksy wisdom as his investing prowess, announced Tuesday that he has been diagnosed with cancer.

In a letter to shareholders, Buffett, 81, said that he had been diagnosed with stage I prostate cancer.

“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,” Buffett said in the letter.

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