The Oracle Stock Surge: Overnight Millionaires in Bengaluru

A Record-Breaking Rally

Imagine waking up to find out you’re suddenly a millionaire. That’s the reality for many young engineers and fresh hires in Bengaluru, India, thanks to the unprecedented surge in Oracle’s stock. This remarkable financial windfall has put smiles on the faces of many, turning mere dreams into tangible wealth. A remarkable day on September 10 witnessed Oracle’s stock surge by a whopping 36%, a rise unseen since 1992, all thanks to the company’s massive AI cloud deals announcement.

Newfound Wealth for the Young

In an unexpected twist of fate, a 22-year-old fresher from the class of 2024 is finding themselves richer by the day. With initial stocks valued at ₹60 lakh, their worth has skyrocketed to ₹1.25 crore, with predictions that this will hit ₹2 crore by 2027. Another 25-year-old Oracle engineer, only two years into his career, now enjoys a net worth of ₹1.5 crore, The Economic Times reported. According to Business Today, such transformations are making waves in the tech industry.

Stories from the Trenches

Across various Oracle offices, stories of windfalls reverberate. A Bengaluru-based engineer exclaimed, “Holy S$$\(, I’m a millionaire today!" after their RSU portfolio surged in value. A product manager in San Jose, who had invested shares at \)55, now relishes in the quadrupled value, stressing that “such amazing wealth moments happen once in a decade.”

A Global Phenomenon

Though the epicenter of this financial explosion may be in India, the effects are being felt worldwide. From San Jose to Hyderabad, Oracle employees are counting their blessings and reassessing their financial futures. A techie based in Hyderabad expressed pure joy: “Only a fraction of my RSUs have vested, but the difference is palpable.”

Repercussions and Future Expectations

This sharp boost in Oracle’s market cap to \(933 billion has sent ripples throughout the tech industry. Cofounder Larry Ellison briefly overtook Elon Musk to become the world's richest person, and the contract backlog is swelling with expectations of reaching \)500 billion. It’s a boom time at Oracle, with CEO Safra Catz declaring “Layoffs are a thing of the past,” and former employees are getting requests to return.

A Time of Opportunity

For these young tech workers, the future looks incredibly bright as they ride the wave of Oracle’s success. It’s a testament to the unpredictability of the stock market and the enormous potential that lies within it. “I’m fortunate to be at the right place at the right time,” said one employee, capturing the essence of what many feel. In the telecom corridors of Bengaluru, dreams are turning into reality, one stock surge at a time.