Ian Wood & family – Billionaire

Ian Wood transformed a family owned fishing business based in Aberdeen, Scotland into Wood Group, a multinational oil services company with operations in over 50 countries and 42,000 employees. He joined the family business in 1962, became CEO in 1967 and ran the firm for nearly five decades–taking it public in 2002–then served as chairman before retiring in 2012. Wood and his family have sold much of their stake in the company over the years, diversifying into other investments. Wood, knighted in 1994 and awarded a Knight Grand Cross in 2016, has put more than $200 million into the philanthropic Wood Family Trust. As the oil industry took a downturn, Wood set up Opportunity North East, an economic development agency that aims to revitalize and diversify Aberdeen’s oil-dependent economy.

Ian Wood and Family Net Worth: Ian Wood is a British businessman who shares a net worth of $2 billion with his family. Debutant on the world’s richest list this year, Ian Wood successfully transformed a family-held fishing business into a multinational oil services company. Headquartered in Aberdeen, Scotland, the company now has operations in over 50 countries and a total number of 42,000 employees. It was back in 1962 that he joined the group and then served as Wood Group’s CEO from 1967 to 2006 and eventually as chairman before retiring in 2012. The same year the company was listed on the London Stock Exchange and at the time the group had revenues of $6.8 billion. The Woods, who hold the bulk of the company, continue to sell their shares diversifying their fortune in other investments. By rough estimates, he and his family now have a 5% stake. The currently retired Ian Wood has also given over $200 million into the philanthropic Wood Family Trust in the last four years.

Source:

1. forbes

2. celebritynetworth