Aberdeen's Billionaire Sir Ian Wood steps down from the Charity he founded the Wood Foundation.

On January 24, 2025, Aberdeen's billionaire philanthropist, Sir Ian Wood, officially stepped down from the charity he founded, The Wood Foundation, marking the retirement of Scotland's second-largest charitable donor. While no one has surpassed fellow Scotsman Andrew Carnegie—who, in today’s currency, gave away an astonishing $360 billion and remains the greatest charitable donor in history—Sir Ian’s legacy as a visionary philanthropist stands unparalleled in modern Scotland.

The Wood Foundation came to life in 2007 after a pivotal conversation between Sir Ian, Harry Potter author J.K. Rowling, and businessman Sir Tom Hunter. They urged him to use his wealth to make a difference, reminding him of the futility of being "the richest person in the graveyard." Inspired, Sir Ian initially committed £50 million of his personal fortune to the foundation—just the beginning of a transformative journey.

True to his business acumen, Sir Ian adopted a venture philanthropy model, ensuring donations weren’t simply distributed but used to create self-sustaining charitable enterprises capable of generating ongoing income and providing long-term jobs. He emphasized efficiency, investing where the greatest impact could be achieved. Notably, for every £2 spent in Africa, £100 would be required to achieve similar results in the UK. This insight led him to focus much of his philanthropic work on the African continent.

In partnership with corporate giants like Unilever and Typhoo Tea, Sir Ian embarked on a groundbreaking project to revolutionize tea farming in Tanzania, Rwanda, and beyond. This initiative involved acquiring vast tracts of farmland, establishing schools, and providing training and facilities to generations of tea farmers. To date, Sir Ian’s £300 million investment has lifted 60,000 tea farmers out of extreme poverty.

The profound impact of his work was felt deeply on the ground. In one memorable instance, a Rwandan tribal elder invited Sir Ian to a gathering to express gratitude. Expecting a modest event, Sir Ian was astonished to find a stadium filled with thousands of people, many of whom had walked for days to personally thank him for transforming their communities.

Sir Ian’s philanthropic endeavors also attracted global attention. Bill Gates and Warren Buffett famously called his office one Sunday morning, inviting him to speak in San Francisco to an audience of over 100 of the world’s wealthiest billionaires, including Mark Zuckerberg, Elon Musk, and George Lucas. Standing before this intimidating crowd, Sir Ian urged them to focus their wealth on initiatives outside the United States, where the greatest life-saving opportunities exist, rather than funneling money into already well-funded American institutions.

Closer to home, The Wood Foundation has made a lasting impact on Aberdeen. Its contributions include:

Building a £10 million car park at Aberdeen’s main hospital.

Donating £5 million to the Sir Ian Wood Building at Robert Gordon University, the largest gift ever made to a Scottish university.

Contributing £40 million to Opportunity North East (O.N.E).

Investing £40 million in the Net Zero Technology Centre.

Providing £500,000 to Albyn School.

Perhaps the foundation’s crowning achievement is Kids Operating Room (Kidsoar), an initiative spearheaded by Sir Ian’s son Gareth and his wife Nicola. Kidsoar establishes surgical theaters in developing countries, offering life-saving procedures to children with no other access to medical care. To date, the program has facilitated over 150,000 operations across 35 countries. This remarkable work earned Sir Ian and Gareth the unique distinction of being the only father-son duo to receive the prestigious Wallace Award.

While Sir Ian’s business accomplishments are monumental—creating over three million jobs through his Wood Group empire—his philanthropic legacy far surpasses these achievements. His contributions have not only transformed Aberdeen but have touched lives and reshaped communities worldwide.

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Sir Ian Wood: Aberdeen’s Billionaire – Ruthlessly Humble,

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