US oil tycoon Harold Hamm ordered to pay ex-wife US$1b in divorce ruling
Judgment in Harold Hamm divorce could make ex-wife one of America's 100 richest women but Continental CEO won't have to sell any shares
Oil magnate Harold Hamm has been ordered to pay nearly US$1 billion to his former wife in one of the largest-ever US divorce judgments, according to a court filing.
In an 80-page ruling following a nine-week divorce trial that ended last month, Oklahoma Special Judge Howard Haralson ruled that Continental Resources chief executive officer Hamm should pay his ex-wife a total of US$995.5 million.
This private matter ... will not have any impact on the business or operations
Although the award could make Sue Ann Hamm, 58, one of the 100 wealthiest women in the United States, according to Forbes, it is far smaller than the amount her lawyers sought and does not require Harold Hamm to sell shares of Continental.
He holds 68 per cent of the firm's shares. During the trial, Sue Ann Hamm's lawyers had asked Haralson to split a marital estate they estimated to be worth at least US$17 billion, tied up in Continental shares.
Haralson's ruling is subject to appeal, but if accepted by both parties it would allow Hamm to put a contentious and time-consuming divorce behind him and to remain the controlling shareholder of one of America's most successful oil companies.
"This private matter has not, and will not have any impact or effect on the company's business or operations," Oklahoma City-based Continental said.
Sue Ann Hamm's declined legal team said it would be "evaluating her options".