An oil executive has been ordered to pay nearly $1 billion to his ex-wife, in one of the largest U.S. divorce judgments in history.
Harold Hamm, the chief executive of Continental Resources, who is worth an estimated $14 billion, must pay his former wife Sue Ann Hamm a total of $995.5 million, following a ruling by an Oklahoma judge.
Mr. Hamm, whose company owns one million acres in North Dakota?s Bakken oilfield, is thought to have access to more oil underground than any other American. Mr. Hamm, 68, has two daughters with his wife, to whom he was married for more than 25 years. The couple did not sign a prenuptial agreement.
Although the award could make Ms. Hamm, 58, one of the 100 wealthiest women in the U.S., according to Forbes? rankings, it is far smaller than the amount her lawyers sought and does not require Mr. Hamm to sell shares in Continental. He holds a 68% stake in the firm.