Well, to start, science cannot do what you say. It's not that it's highly unlikely, its that the thing science actually does cannot prove what you want it to prove. Period. The closest they could get is to create a model where Bob is the center of the universe and demonstrate that that model is consistent with our reality, and that the null hypothesis that Bob is not the center of the universe is statistically unlikely, and thus reject the null hypothesis.
But let's modify it and say that a 100% reliable Oracle machine is the thing which makes this claim, rather than science. That way we can go forward with the question.
The short term effects are: everything you think of in life is turned upside down.
The long term effects are: everything you think of in life is turned upside down.
There will literally not be a single aspect of life which remains the same. In marriage, we often say that you have to put your spouse before yourself. It's a challenge. Every day we struggle to meet that standard. What your scenario shows is that Bob must be put before you, because Bob is literally the only thing that matters. We would, in effect, all be married to Bob, with the exception that this marriage is combined with the most suicidally depressing reality that your life literally means nothing beyond what happiness it creates in Bob.
Every single religion would cave in overnight, unless Bob decides it would make him happy to keep the religion around. After all, religions tend to make claims that are not aligned with "Bob is the center of the universe," so they will all be proven false by this Oracle in one fallow swoop.
Every economy would be completely upheaved as the entire concept of capitalism (and communism) is rocked to its core. All of our economic theories center around trying to identify the best allocation of resources. Now we know... it's to give Bob whatever resources Bob needs.
Every international treaty, every patent, ever poet's word, every last one of them would change utterly and completely. Nothing would be left untouched.
And as for the suicide, if Bob decides to kill himself, what happens next is 100% dependent on details that are not in the question. Bob is fully capable here of having every one of us grab a dagger and commit sepuku in his name before killing himself. Bob is also capable of realizing that there's some pretty smart people out there who may be able to help him with his purpose, and he may instruct them to act to stop him from such drastic acts. Take your pick. The answer to this doesn't depend on the world, it depends on Bob. Questions about individual characters are not on topic for Worldbuilding, so there's not much we can do about it.