Microsoft Co-Founder Paul Allen Diagnosed With Cancer
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Microsoft (Nasdaq: MSFT) co-founder Paul Allen has been diagnosed with an immune system cancer for the second time and is undergoing chemotherapy.
The billionaire investor has non-Hodgkin's lymphoma and is optimistic that he can beat the disease after winning a battle with Hodgkin’s lymphoma more than 20 years ago.
Jody Allen, Paul Allen's sister and CEO of his investment firm Vulcan Inc., released a memo to employees stating that her brother had received the diagnosis of having a large B-cell lymphoma early this month. The disease is a very common type of lymphoma.
"Paul is feeling OK and remains upbeat," Jody Allen added. "He continues to work and he has no plans to change his role at Vulcan."
Allen founder Microsoft in 1975 with high school friend, Bill Gates. Gates and Allen remain close friends and Gates released a statement offering his wishes to Allen and his family.
Allen formed the Vulcan investment firm in the mid-1980s, with investments including America Online, Dreamworks Animation (Nasdaq: DWA) and cable operator Charter Communications. Allen also owns the Seattle Seahawks football club and the Portland Trailblazers basketball team. The lifelong sports fan is also a part owner of the newly formed Seattle Sounders F.C. of Major League Soccer.
Allen's net worth is totaled at $11.5 billion, which makes him the 17th wealthiest person in the world according to Forbes' September 2009 ranking.
Shares of Microsoft are trading up 1 percent at $29.82 in mid-day trading. Dreamworks is down 1.5 percent at $33.57.
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