Sue Ann Hamm made headlines of all cultures this week when she was awarded nearly $1 billion in the divorce settlement from her oil tycoon ex-husband, Harold Hamm. ($995 million to be exact.)
Instead of reveling in her new wealth without him, Sue Ann is filing an appeal because she feels like her settlement is “not equitable,” seeing that Harold is worth an estimated $17 billion.
Via MSN:
Feeling shortchanged by a ruling that allows the Continental Resources (CLR.N) chief executive officer to keep around 94 percent of the estimated $18 billion rise in his Continental shares during a 26-year marriage, Sue Ann Hamm will appeal within a few weeks, one of her lawyers, Ron Barber, told Reuters on Thursday.
On Monday, Oklahoma County Court Judge Howard Haralson ordered the CEO, who is believed to own more oil than any other American, to pay his ex-wife $995 million. The ruling allows her to keep additional assets, including a California ranch and an Oklahoma home, worth tens of millions more.
The Hamm v. Hamm divorce judgment is one of the largest in U.S. history, but Sue Ann’s award is a small fraction of the wealth Haralson allowed Harold Hamm to keep.
He holds more than 68 percent of Continental’s stock, a stake valued at around $13.5 billion today. It was worth more than $18 billion before the 9 1/2-week divorce trial began in August. Continental shares have fallen sharply since then, in line with global oil prices.
“Sue Ann is disappointed in the outcome of this case. She dedicated 25 years as Harold’s faithful partner in family and business,” Barber said.
There are plenty of people who get divorced after decades of marriage who don’t get a whiff of what Sue Ann was awarded but this case sounds a bit scornful.
Continental was also founded in 1967, 21 years before Harold married Sue Ann.
—
Photo: WochIt
