Why Oracle chairman Larry Ellison is relocating his Texas City-based HQ to Nashville - and why he immediately regretted announcing it

Oracle founder Larry Ellison has announced that he plans to move the software giant's corporate headquarters from Kansas to Nashville. 

During an onstage conversation with former Senate majority leader Bill Frist, the 79-year-old confirmed the plans for the company to move to Tennessee. 

In 2020, the company moved its headquarters from Silicon Valley in California to Austin, Texas. 

Ellison said the decision was based on a push by the company to gain a bigger foothold in the healthcare industry. 

The announcement was apparently spur of the moment, with Ellison telling Frist: 'I shouldn't have said that.' 

During an onstage conversation with former Senate majority leader Bill Frist, the 79-year-old confirmed the plans for the company to move to Tennessee

According to a report by The Tennessean in 2021, the company paid $254 million for just over 60 acres of riverfront property in Nashville 

Ellison said: 'It’s the center of the industry we’re most concerned about, which is the health-care industry.

'It’s a great place to raise a family. It’s got a unique and vibrant culture. As we surveyed our employees, large numbers of employees, Nashville ticked all the boxes.

'We want to be part of the community. Our people love it here. And we think it's the center of our future.'

Oracle has been making inroads into health care in recent times, most notably when it acquired medical records software giant Cerner for $28 billion. 

Ellison said that while the company is new to the health-care sector he believes the company has a 'moral obligation' to solve problems in the area. 

According to a report by The Tennessean in 2021, the company paid $254 million for just over 60 acres of riverfront property in Nashville.

Oracle will become one of the few large corporations that have their headquarters in the city, although Amazon already have a significant presence. 

Nashville has been a big part of the health-care scene in America for years, and is home to a network of health systems, startups and investment companies.  

In 2020, the company moved its headquarters from California to Austin, Texas, seen here

Ellison said that while the company is new to the health-care sector he believes the company has a 'moral obligation' to solve problems in the area

Its reputation as a hub for health-care was brought on when HCA Healthcare, one of the first for profit hospital companies in the country was founded there in 1968. 

Oracle was founded in Santa Clara, California, in 1977 and had its headquarters in Redwood City. 

After moving to Texas, the company said their relocation was due to an effort to have a more flexible workforce. 

The Tennessean reported that the move to Nashville is expected to create 8,500 new jobs by the end of 2031. 

The project is also expected to bring almost 11,500 ancillary jobs and 10,000 temporary positions during construction. 

Deisgner Norman Foster, who worked with Apple to create their Apple Park in Cupertino, California, will design the Oracle campus, according to Fox.

Ellison's son David is being pipped as one of the leading contenders to acquire the entertainment giant Paramount Global. 

The younger Ellison, who owns Skydance Media,  differentiated himself by setting out on his own as a successful media mogul.

Skydance Media is now on the cusp of taking over the brand, which include assets like CBS, MTV, and a national movie theater chain, according to the LA Times.