Harold Hamm, the founder and CEO of Continental Resources, has been ordered to pay his ex-wife nearly $1 billion dollars – one of the biggest divorce settlements in history. After a 26 year marriage, and no prenuptial agreement, ex-wife Sue Ann Hamm will soon be joining the list of the wealthiest women in the United States. The court has ordered Mr. Hamm to pay her $322 million by years end, and $7 million a month going forward (until reaching $995.4 billion). In addition, Sue Ann has been awarded the Oklahoma marital home, valued at $4.9 million, and a California ranch valued at $17.5 million.
But apparently the $1 billion dollar divorce settlement is not enough for Sue Ann—she plans to appeal the judgment on the grounds that it grossly undervalues the marital wealth to which she is entitled. Mr. Hamm holds more than 68% of Continental’s stock, a stake valued at around $13.5 billion today (value had decreased right before trial)—and Sue Ann believes she was shortchanged by a ruling that allows him to keep nearly all of an estimated $18 billion dollar rise during a 26 year marriage.
You can read the Forbes article in full here.
-Libby Mouradjian
