Continental Resources CEO, chairman and founder Harold Hamm will pay a nearly $1 billion divorce settlement to his ex-wife, according to an Oklahoma County court filing released Monday.
Sue Ann Hamm, a lawyer for Continental who was married to her former husband since 1988, will recieve $955.5 million in total, Special Judge Howard Haralson ruled, with $322.7 million to be paid by the end of 2014. And starting in January, the remaining $650 million bill will be paid in monthly installments of $7 million, plus 5.25 percent interest.
According to Reuters, the judgement is one of the largest in U.S. history, and will make Sue Ann Hamm one of the 100 wealthiest women in the country. According to the filing, Haralson secured the judgement after placing a lien of 20 million shares of Continental stock.
Despite record payout, Sue Ann Hamm’s lawyers were seeking a significantly larger portion of Harold Hamm’s $14 billion stake in Continental. But according to the filing, she will also get two of the couple’s homes — a $17.5 million home in Carmel Valley, California, and a $4.7 million home in Nichols Hills, Oklahoma. But Harold Hamm will keep two horses, named “Star” and “Uno,” from the California property.
Harold Hamm also will get most of the items from the couple’s Oklahoma home that he requested specifically at the end of the trial: “certain family pictures, a few books, guns, shotguns, some pictures, geode in quartz display, and his hand tools.” He won’t get the geode in quartz display, according to the filing.
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