Ex-Wife of Oil Tycoon Accepts $1 Billion Divorce Settlement After Rejecting $975m

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 divorce ruling.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, 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 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 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.The tycoon, who was the 13th child of poor farmers, founded his first business, Harold Hamm Tank Trucks, in 1966.

Source:UK Mirror

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