 |
A divorce battle lasting more than two years came to an end today with the ex-wife of an oil billionaire finally accepting a settlement of nearly $1billion.Harold Hamm had a $975million divorce cheque handed back to him by his bitter ex-wife on Wednesday, who insisted she was entitled to more of his empire once valued at
£12billion.
But today the mother of his two children, Sue Ann Arnall, took a sharp U-turn and cashed
the $974,790,317.77 cheque - equivalent to £644million.
The settlement was the full cash value of what Mr Hamm owed based on a November
The settlement was the full cash value of what Mr Hamm owed based on a November
divorce ruling.
The billionaire CEO of oil driller Continental Resources had claimed the fall in oil prices
The billionaire CEO of oil driller Continental Resources had claimed the fall in oil prices
has cost him more than half his fortune in the last few months.
Ms Arnall, a former Continental executive who was married to Mr Hamm for 26 years,
Ms Arnall, a former Continental executive who was married to Mr Hamm for 26 years,
said earlier this week the award of cash and assets was inadequate and allowed her former husband to keep the lion’s share of their joint fortune.
Mr Hamm had already paid his ex-wife more than £13million during their divorce
Mr Hamm had already paid his ex-wife more than £13million during their divorce
proceedings.
The couple, who have two adult daughters, married in 1988 but did not sign a pre-nuptial agreement.
Since the pair married, Continental Resource’s worth has grown from less than £33million
The couple, who have two adult daughters, married in 1988 but did not sign a pre-nuptial agreement.
Since the pair married, Continental Resource’s worth has grown from less than £33million
to £13billion. And because Mr Hamm owned his shares in the company before he and
Ms Arnall were married, they belong to him.
Mr Hamm started out in the oil industry as a teenager, pumping petrol and changing tyres.
Mr Hamm started out in the oil industry as a teenager, pumping petrol and changing tyres.
The tycoon, who was the 13th child of poor farmers, founded his first business, Harold
Hamm Tank Trucks, in 1966.
Source:UK Mirror
Source:UK Mirror