Curiosity
harold hamm divorce settlement worth $11 billion: reports
harold hamm divorce settlement worth $11 billion: reports (photo courtesy David Shankbone)
Harold Hamm, CEO for Continental Resources, is now mired in an acrimonious divorce from his second wife Sue Ann. The divorce was officially filed in Oklahoma court ten months ago, and no settlement has been reached yet.
Reuters claims to have obtained court documents that show the cause of the divorce, while officially sealed, is marriage infidelity. It is said that Mrs. Hamm discovered proof of her husband’s infidelity as early as 2010. If that turns out to be the case, Mr. Hamm may be looking at a very large settlement with his wife. Currently, Mr. Hamm is listed by Forbes Magazine as the 35th richest American with a net worth of over $11 billion.
The question now becomes whether or not a prenuptial agreement is in force and under what conditions it may be subverted. Mr. Hamm owns 68% of the shares in Continental Resources which have a current value of over $11 billion. If the judge rules in favor of joint marital property, Mrs. Hamm will receive a settlement far greater than the $1.7 billion which media Mogul Rupert Murdoch paid in 1999 to his ex-wife. The loss of equity shares could also result in Mr. Hamm losing control of the company at a time when it is the fastest growing oil company in the nation.
On The Web:
Billionaire Oil Barron Harold Hamm’s Divorce Could Result In Record-Breaking Payout
http://www.huffingtonpost.com/2013/03/21/harold-hamm-divorce_n_2926784.html