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Page added on November 10, 2014
Oil Mogul Harold Hamm to Pay Wife $995 Million in Divorce
An Oklahoma County judge has ordered oil magnate and Continental Resources Chief Executive Officer Harold Hamm to pay nearly $1 billion in a divorce judgment, according to a court filing made public on Monday. Special Judge Howard Haralson found that Hamm should pay his ex-wife Sue Ann Hamm a total of $995.5 million, with about a third of the funds, or $322.7 million, to be paid by the end of the year, the filing says.
Hamm, Oklahoma’s richest man, will then be required to pay the rest of the judgment, some $650 million, in installments worth at least $7 million per month, the filing says. Sue Ann Hamm has already been awarded around $25 million since the case was filed in 2012, the filing says. To secure the judgment, Judge Haralson has placed a lien on 20 million shares of Continental stock, the filing says. The ruling, which is subject to appeal, comes after a 9-1/2 week divorce trial ended last month. Expert witnesses for Sue Ann Hamm, a former attorney at Continental, had pressed the court to divide a fortune valued at about $17.6 billion in wealth that had accrued in Harold’s shares of the company since 1988, when she married Harold. Such a multibillion-dollar award could have forced Harold to liquidate a significant portion of his Continental shares, eroding his control of one of America’s fastest-growing energy companies. Continental is a leading driller in the Bakken oilfield of North Dakota and Montana. Harold’s side contended his wife deserves almost none of it.
10 Comments on "Oil Mogul Harold Hamm to Pay Wife $995 Million in Divorce"
Perk Earl on Mon, 10th Nov 2014 10:23 pm
She should be able to get herself a really good prepper setup with that kind of dough.
Northwest Resident on Mon, 10th Nov 2014 10:41 pm
Perk Earl — No doubt. That’s money would pay for a lot of beans and rice! I wonder what she did to “earn” that $1 Billion? Not that I have any pity for HH — well, maybe a little because I got taken to the cleaners in my divorce too — but I just can’t understand how “justice” figures his wife deserves that money. She was just along for the ride. Divorce law in America sucks if you ask me.
antaris on Mon, 10th Nov 2014 11:16 pm
I don’t know about the States, but here in Canada the first word new female immigrants learn is “half”. For those born here it is one of the first words spoken.
GregT on Mon, 10th Nov 2014 11:46 pm
She obviously fell in love with Harold for his good looks, and sense of honour. Note to self: if I ever get filthy rich, do not marry an attorney.
GregT on Mon, 10th Nov 2014 11:46 pm
Sense of humour. Stupid I-pad.
Norm on Tue, 11th Nov 2014 4:48 am
He could have bought a lot of nights with high priced hookers, for way less than that.
Steve O on Tue, 11th Nov 2014 7:24 am
Only having to cough up about 5% of your net worth sounds like a deal to me. I had to give up half of everything.
paulo1 on Tue, 11th Nov 2014 10:19 am
Antaris:
I laughed when I read this: “For those born here it is one of the first words spoken.”
I guess the pendelum truly does swing on issues. For me it was 1/2 the value of the house plus the furniture, car, jewlry, etc. “take it, take it…I’ll just build some new furniture”. But the laugh was mine in the end. I settled in 1999 at the bottom of the housing cycle (as it turned out). I sold the house in 2007. Now it is funny….not so much then.
I could see Hamm not having so much when LTO stumbles. Maybe that is why 5% is considered half.
Paulo
theedrich on Tue, 11th Nov 2014 11:18 pm
Aren’t sociopathic anti-male judges just wonderful? By divine intuition they “know” even before a divorce happens that any and all (White) men are guilty of something and should pay through the nose in any settlement. Their gold-digging wives are by definition pure, innocent and victimized. Have to make sure “justice” happens.
Davy on Wed, 12th Nov 2014 6:36 am
Thee, women have a big wake up coming in the approaching descent. Those who think their rights to independence are assured are sadly mistaken. They should start studying the social position of women in the 18th & 19th century to get a taste of it.