Continental CEO Harold Hamm Ordered to Pay $995 Million in Divorce

Reuters

Nov 10 (Reuters) - An Oklahoma County judge has ordered 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.

In one of the highest value divorce judgments in U.S. history, Special Judge Howard Haralson found that oil magnate Hamm should pay his ex-wife Sue Ann Hamm a total of $995.5 million.

Although the divorce award could make Sue Ann Hamm, 58, one of the 100 wealthiest women in the United States, according to Forbes' rankings, it is far smaller than the amount her lawyers sought.

The ruling, which is subject to appeal, comes after a 9-1/2 week divorce trial ended last month.

In a 2010 divorce settlement, casino magnate Steve Wynn agreed to transfer 11 million shares in Wynn Resorts, then worth $741 million, to his ex-wife Elaine, according to filings with the U.S. Securities and Exchange Commission.

Sue Ann Hamm's lawyers had contended that the court should split up most of the wealth tied up in Harold Hamm's stake in the Oklahoma City-based company he runs and founded, Continental Resources. His 68 percent stake in the firm is worth about $13.8 billion.

An award under the $1 billion mark may allow him to avoid selling any big chunk of equity in the company to fund the divorce.


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SB | Nov. 11, 2014
I guess I should be thankful that my divorce was so "cheap"!!!


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