Oracle announces newest products at OpenWorld
SAN FRANCISCO (KGO) -- The richest man in the Bay Area is hosting his annual bash Wednesday night on Treasure Island. Oracle CEO Larry Ellison's mega-party will cap the company's OpenWorld conference.
Oracle is a huge player in the data base world, providing accounting, payroll, financial and e-mail systems for business and government.
Wednesday, Ellison spoke to tens of thousands gathered in the Moscone Center's north hall.
Ellison told his audience it has been quite a week.
"We have announced more technology this week than in any other time in Oracle's history," Ellison said.
He went on to outline innovations in cloud computing, database machines and microprocessors.
"Definitely the message he's trying to send is that they're going all out," attendee Subhanjan Goash said.
Also in the news this past week was the settlement of a lawsuit allowing former Hewlett Packard CEO Mark Hurd to become Oracle's president.
Ellison also sold a million shares of Oracle this week, generating $27 million dollars. He still owns 1.1 billion shares, more than 10 percent of the company. Forbes put his net worth this year at $28 billion.
But Wednesday the hot ticket is on Treasure Island where the Black Eyed Peas will play at the Oracle party. Last year it was Aerosmith.
Over 41,000 people are attending. Oracle says the economic impact of OpenWorld is $100 million, an average of $2,500 per person.
The more immediate impact on is the commute; streets around Moscone Center are blocked off and buses are going to be rolling from Moscone to Treasure Island, likely to impact traffic on the Bay Bridge.
larry ellison, oracle, business, mark matthews
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