Tycoon Sir Ian Wood and family and Douglas Craig and family, who both have their head offices in Aberdeen, are listed in the new Sunday Times Rich List, and are worth £747 million and £104 million respectively.

Along with most Rich List entrants, the two family fortunes have taken a tumble since last year due to the economic downturn.

Sir Ian Wood owns J.W. Holdings of Aberdeen which is Scotland's largest fishing company, is said to be worth around £14 million and employs around 400 people. He is at number 57 in the Rich List, but the family fortune has dropped by an estimated £147 million in the past 12 months because of the fall in oil prices which is the group's main activity. The family are also major contributors to charity and have set up a £50 million trust to help development in the Third World, notably Africa.

Douglas Craig has also seen a drop in the value of his business interests - from £160 million to £104 million. The company, which operates out of Peterhead, owns or part owns nine fishing vessels through its subsidiary Grampian Sea Fishing and is also involved in fish selling and supplying goods and services to the fishing industry through its chandlery business. It also has extensive offshore oil and leisure interests. The Craig Group, which says it is proud of its fishing heritage, recently donated £1 million to Gordon's College in Aberdeen.

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