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Getbig Main Boards => Gossip & Opinions => Topic started by: Thin Lizzy on November 11, 2014, 07:30:19 AM
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Divorce to cost Harold Hamm nearly $1 billion
Continental Resources Inc. CEO Harold Hamm must pay almost $1 billion to complete his divorce, an Oklahoma judge has ruled.
by Jay F. Marks Modified: November 10, 2014 at 9:25 pm • Published: November 11, 2014
Continental Resources Inc. CEO Harold Hamm must pay his ex-wife nearly $1 billion to resolve their long-running divorce case, an Oklahoma County judge ruled Monday.
Observers had speculated the divorce could be the largest in U.S. history, given Hamm’s position as Continental’s majority shareholder, but the judge decided only a fraction of his stock’s value qualified as marital property.
District Judge Howard R. Haralson awarded about $2 billion in marital property to Hamm, while his ex-wife, attorney Sue Ann Hamm, received assets worth about $25 million.
The judge ruled Harold Hamm must pay half of the difference between the marital asset awards, which works out to about $995 million.
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