Scottish Oil Billionaire Sir Ian Wood Dies At 84

Billionaire entrepreneur and founder of the Wood Group, Sir Ian Wood, has died peacefully at his home at the age of 84.

The Scottish businessman built his wealth in the North Sea oil and gas sector after taking control of his family’s fishing business in 1967 and transforming it into a global engineering firm valued at over £5 billion.

Sir Ian received a knighthood in 1994 for his contributions to the energy sector and was later appointed a member of the Order of the Thistle, Scotland’s highest chivalric honor, before stepping down as group chairman in 2012.

In a statement, his family remembered him as a devoted husband, father, and grandfather whose philanthropic efforts through The Wood Foundation helped communities worldwide. He is survived by his wife of 55 years, Helen, three children, and seven grandchildren.