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Sir Ian Wood and family
Oil services, Fishing
Rank 2017
5
Worth
£1,600m
Rise/fall
£160m

The stock market in recent years has been a rollercoaster ride for Aberdeen’s Wood Group, but as the oil price has recovered slightly so too have its shares, making the business worth £3.17bn. Native son Wood, 74, who retired from the board in 2012 after nearly 50 years in charge, is widely seen as the architect of the Granite City’s oil and gas boom, having taken over the running of what was then a small family-owned North Sea fishing operation in 1964. The company floated in 2002 with a £1bn valuation and the Woods have diversified into other investments by selling down their group stake, retaining a £33.4m holding. His JW Holdings fishing operation showed profits of £1.3m in 2015 with assets of £18.5m, and his hotel and pub businesses are also performing well. A family investment fund gained 20%, accounting for £100m growth in the year to January 2017, and in the past year the Woods have given away £8m to their foundation, which helps the poor in Scotland and sub-Saharan Africa.