Phillip Ragon | $1B+
Get in touch with Phillip Ragon | Phillip Ragon, founder and CEO of InterSystems, built one of the most influential private software companies in the world by focusing on high-performance data platforms for healthcare, finance, and government systems. Since founding InterSystems in 1978, Ragon has guided the company’s development of mission-critical database and interoperability technologies used by hospitals, banks, and national infrastructures globally. Known for remaining fiercely private, profitable, and independent, he has prioritized long-term engineering excellence over short-term growth. Ragon is also a major philanthropist, supporting global health, education, and human rights initiatives.
Phillip Terrence "Terry" Ragon is an American entrepreneur and philanthropist who founded InterSystems and is the current CEO.
Phillip Ragon, known as Terry, founded InterSystems, a software company that enables hospitals and banks to analyze big data, in 1978.
Ragon retains full ownership of the company, which generates around $1 billion in annual sales.
Ragon and his wife, Susan, joined the Giving Pledge in 2017.
After a trip to South Africa in 2009 where Terry and Susan saw the ravages of AIDS, they established the Ragon Institute to pursue an HIV vaccine.
The couple announced a $200 million gift to endow the Ragon Institute of Massachusetts General Hospital, MIT and Harvard in 2019.
Early life and education
The son of a U.S. Air Force fighter pilot, Ragon was born in Arizona.[2] He grew up in a variety of states and graduated from high school in Bogota, Colombia.[2] He graduated from MIT in 1971 with a B.S. in physics.[3]
Career
In 1978, Phillip Ragon founded InterSystems Corporation in Cambridge, Massachusetts, to develop and sell database management and healthcare information systems. He is currently the CEO and owner.[4]
The company initially developed MUMPS-based systems, releasing ISM-11 for the DEC PDP-11. Over time, InterSystems acquired several MUMPS implementations, including DTM from Data Tree in 1993, DSM from Digital in 1995, and MSM from Micronetics in 1998, consolidating these technologies into its Caché database released in 1997. Subsequent products include Ensemble (2003), HealthShare (2006), and InterSystems IRIS Data Platform (2017), which integrates database management, interoperability, and analytics capabilities.[5]
InterSystems has expanded globally, establishing over 35 offices worldwide and serving clients in more than 80 countries. The company's software solutions are utilized across various industries, including healthcare, finance, and logistics. Notably, the U.S. Department of Veterans Affairs employs InterSystems IRIS to manage over 3 petabytes of data.[6]
Ragon is a member of the Harvard Medical School Board of Fellows, and a member of MIT Corporation (the governing body of MIT),[7] and a member of the advisory board of the MIT Jameel Clinic.[8]
In 2025, with a net worth of $3.4 billion, Forbes ranked Ragon No. 378 on the Forbes 400 list of the richest people in America.[9]
Philanthropy
The Ragon Institute in Cambridge, Massachusetts
In March 2017, Ragon, and wife Susan, signed The Giving Pledge, vowing to donate at least half of their money to philanthropic causes.[10][11]
In 2009, Ragon pledged to donate US $100 million over 10 years period for AIDS research through the Phillip T. and Susan M. Ragon Institute at the Massachusetts General Hospital (MGH) after witnessing the plight of the disease in South Africa.[12] The Ragons donated $200 million to MGH in 2019, the largest donation in the hospital's history.[13]
In April 2019, Ragon and his wife announced that they were donating a further $200 million to Massachusetts General Hospital for a vaccine-research center.[14][15]
Personal life
Ragon is married to Susan M. Ragon, and they have two children. The couple resides in Massachusetts and actively supports various charitable initiatives[16]
Awards and honors
In 2022, Ragon received the Golden Plate Award of the American Academy of Achievement.[17]
Disclaimer: This profile is based on publicly available information. No endorsement or affiliation is implied.
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