An Aberdeen businessman has been named Scotland’s second richest man.
The Sunday Times Rich List has unveiled the names of the north-east’s wealthiest people ahead of its publication this weekend.
Oil magnate Sir Ian Wood and his family remain at the top of the local list with £1.763 billion – making him Aberdeen’s only billionaire.
The former managing director of Wood plc has increased his wealth by around £51 million in the last 12 months, which has pushed the family up from third place in the overall standings.
In 2017, Sir Ian’s JW Holdings firm raked in £3.3m in profits.
The family were one of only two to make their fortune from oil in the Scottish top 20 list, alongside Highland Spring owner Mahdi al-Tajir in fifth place, who also has interests in the energy sector.
Aberdeen-born Tony Quinn and his wife Christina, who now live in Australia and made their fortune in the pet food industry, come in at second on the north-east leaderboard with wealth of £330m.
Robert Watts, the compiler of the Sunday Times Rich List, said: “Many Rich Listers are this year nursing big losses due to the uncertainty over Brexit, turbulence on the stock market and the enormous change sweeping through our high streets.
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“But more than half of our Scottish Rich List have seen their fortunes rise over the past 12 months – that’s a higher proportion than other parts of the UK.”
Despite only two oil tycoons cracking the top 20 in Scotland, seven of the nine wealthiest people in the north-east attained at least part of their wealth through the energy sector, including Steven Ferguson (£250m), Tony Quinn (£230m), Michael Freeman (£159m). Tommy Dreelan (£156m), Tom Cross (£152m) and Jim Milne (£120m).
The Thomson family, owners of the Evening Express and Press and Journal, came in seventh on the Scottish list, boasting wealth of £1.401bn.