Monday, March 25, 2013

Hamm divorce could be most expensive of all time

ABC News' Steve Osunsami contributed to this report:

It's the divorce that could split up control of America's fastest growing oil company and lead to a record-breaking paycheck for the wife who claims her husband cheated.

Harold Hamm, 67, who ranks No. 35 on Forbes' list of richest Americans, is a self-made man worth more than $11 billion.

Sue Ann Hamm, 56, Harold's second wife, filed for divorce on May 19, 2012, claiming that she discovered he was having an affair in 2010, eventually prompting her to end their nearly 25-year marriage.

Hamm was the senior energy advisor on Mitt Romney's presidential campaign and is so wealthy that the candidate allegedly shied away from appearing in public with him. An industry leader, Hamm is a promoter of fracking - the business of squeezing oil out of rocks in places like North Dakota.

The divorce could award Sue Ann Hamm's part of Harold Hamm's 68 percent stake in Continental Resources - the oil company he and his wife built together.

"This is clearly going to be watched on Main Street as well as Wall Street, and internationally," Su Keenan at Bloomberg told ABC News.

After details of the divorce were leaked, Continental issued a statement to help calm any nervous investors claiming that the divorce "is not anticipated to have any impact or effect on the Company's business or operations."

It is not yet known whether or not a prenuptial agreement exists and this could become the biggest War of the Roses in the divorce hall of fame.

Top 5 Settlements in the Divorce Hall of Fame:

1. Rupert and Anna Murdoch $1.7 billion

2. Bernie and Slavica Ecclestone $1-1.2 billion

3. Adnan and Soraya Khashoggi $874 million

4. Craig and Wendy McCaw $460 million

5. Mel and Robyn Gibson $425 Million

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Source: http://gma.yahoo.com/blogs/abc-blogs/hamm-divorce-could-most-expensive-time-191806531--abc-news-topstories.html

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