Company Overview - Oracle Corporation is a Texas-based multinational technology company co-founded in 1977 by Larry Ellison in Santa Clara, California [5] Stock Performance - Oracle shares surged 41% in early trading on Nasdaq, reaching a day's high of $339.68 following the announcement of an AI Center of Excellence for healthcare [7] - The stock's one-year returns now stand at approximately 117%, with year-to-date returns exceeding 100% [7] Impact on Personal Wealth - The stock surge significantly increased co-founder and chairman Larry Ellison's net worth by $101 billion, surpassing $400 billion, making him the world's richest man [2][4] - This event illustrates the substantial influence of corporate performance on billionaire rankings and the volatility of tech fortunes [4] AI Initiatives - Oracle announced the launch of an AI Center of Excellence for healthcare, aimed at helping health systems and hospitals optimize AI deployment [7] - The Oracle Health Patient Portal will soon feature AI capabilities that provide patients with clear explanations of medical records and allow them to ask questions in plain language [6]
Oracle stock turns 2025's multibagger after 41% surge; chairman Larry Ellison beats Elon Musk to become world's richest man
The Economic Timesยท2025-09-10 15:08