Scottish billionaire businessman and philanthropist Sir Ian Wood has died.
Born into a fishing family in Aberdeen in 1942, he would go on to turn his father’s company into the Wood Group oil giant, leading the way as Aberdeen becamee Europe’s energy capital.
Sir Ian became one of the wealthiest men in Scotland, ranking third on The Times’ 2026 Rich List as worth almost £2 billion.
John Swinney has today led tributes. He said: “Sir Ian Wood stands as one of Scotland’s most influential business leaders and philanthropists, a figure whose vision, determination and generosity have left a lasting mark on the nation and far beyond.”
“Through his leadership of Wood Group, he helped transform a modest family business into a global energy services company, playing a pivotal role in the growth of the North Sea oil and gas industry and establishing Scotland as a world-renowned centre of energy expertise.
“Sir Ian Wood’s legacy is one of enterprise, leadership and generosity.
“He has helped shape modern Scotland.”
Stephen Flynn, Cabinet Secretary for Economy and MSP for Aberdeen Deeside and North Kincardine hailed the “titan of industry”.
He added: “His achievements will rightly be remembered for generations alongside his enduring love for Aberdeen, and his dedication to ensuring the city and its people could thrive.”
In a family statement, the Wood family said:
“The Wood family is deeply saddened to announce the death of Sir Ian Wood (84), who passed away peacefully at home, surrounded by his family.
Sir Ian was a devoted husband, father, grandfather and friend. While many knew him as an entrepreneur, philanthropist and one of Scotland’s most influential business leaders, those closest to him will remember above all his kindness, generosity, determination and unwavering commitment to his family.
Born and raised in Aberdeen, Sir Ian dedicated his life to building opportunities for others. Through the growth of the business that bore his family name and through decades of philanthropic work, he sought to create lasting positive change both in Scotland and around the world.
His commitment to education, enterprise and social impact led to the creation of The Wood Foundation and numerous other initiatives around the world, which have helped young people, communities and families realise their potential. He believed in finding the right balance between what you do for yourself, and what you do for others; he felt deeply that good fortune in life carries with it a responsibility to help others realise their own full potential.
Despite his many achievements and honours, Sir Ian remained proudest of his family. He was a devoted husband to Lady Helen for 55 years, a loving father to Nic, Graham and Garreth, and grandfather to their 7 children. He was not only a source of wisdom, encouragement and strength to his family, but to so many others who knew him.
The family would like to express their heartfelt gratitude to the healthcare professionals who cared for Sir Ian and to the many people and colleagues around the world, who have offered support, friendship and kindness throughout his life.
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Sir Ian’s legacy will live on through the countless lives he touched, the organisations he helped build and the values he championed throughout his life.
The family respectfully requests privacy at this time as they mourn his loss. May the tea in Heaven always be ‘extra hot’.”
