Scotland Rich List 2025: Ian Wood and Donald Mackenzie named by Forbes as richest billionaires from Scotland

Scotland has long been a hub of innovation and industry, and its billionaires are no exception.

According to Forbes’ real-time billionaire list, a couple of prominent Scottish figures have amassed vast fortunes, making their mark in diverse sectors ranging from oil services to private equity.

These individuals have built their wealth through a mix of legacy businesses, entrepreneurial ventures, and strategic investments.

But let’s delve into the lives and careers of Scotland's wealthiest billionaires, examining how they made their fortunes and the industries that propelled them to the top.

With their fortunes continuing to grow, these billionaires offer a glimpse into the opportunities that shaped their financial journeys and their impact on both the Scottish and global markets.

Ian Wood ($1.7bn)

Aberdeen-born Ian Wood revolutionised a family-owned fishing business in the same city, turning it into John Wood Group, a global oil services giant listed on the London Stock Exchange.

Joining the company in 1962, he became CEO in 1967 and took the company public in 2002. Wood continued to lead as chairman until his retirement in 2012.

Under his leadership, John Wood Group expanded its reach to over 50 countries and grew to employ more than 60,000 people.

Over the years, Wood and his family gradually sold off much of their stake in the company, diversifying their investments into various other ventures.

Donald Mackenzie ($1.6bn)

Scotland-born Donald Mackenzie is a co-founder and honorary co-chair of CVC Capital Partners, a Luxembourg-based private equity firm.

CVC went public on the Amsterdam Stock Exchange in April 2024, with Mackenzie holding a 5.5% stake.

Originally established in 1981 as the European arm of Citicorp Venture Capital, the VC division of Citigroup, CVC became independent in 1993 when Mackenzie and seven co-founders acquired the business.

They launched their first fund in 1996, shifting the firm’s focus to private equity. Today, CVC has an extensive investment portfolio, including Petco, Swiss watchmaker Breitling, and Spain’s top-tier soccer league, La Liga.

Scotland may have only two billionaires on Forbes' real-time list, but their success stories highlight the country’s strong entrepreneurial spirit. What are your thoughts on their journeys? Share your opinions in the comments section.