Long Island Family Law Attorneys 631.894.4523 Call to Schedule a Consultation

American Oil Billionaire Facing Largest Divorce Judgment in History

American Oil Billionaire Facing Largest Divorce Judgment in History

Posted By Meyers Law Group || 2-Sep-2014

The billionaire that founded American oil firm Continental Resources, is facing the largest divorce judgment in history. As a big player in the recent trend of fracking for oil, Harold Hamm made billions.

Recently, Mr. Hamm and his spouse decided to get a divorce. While the records to the case are sealed, Mr. Hamm is known to be worth an estimated $20.2 billion. Most of his wealth was acquired during his 26 year marriage, making it potentially shared property.

The previous record for a divorce judgment was $4.5 billion paid out by Dmitry Rybolovlev, a prominent Russian businessman and owner of AS Monaco FC. Hamm's spouse would only need to get a quarter of his worth to surpass this record. Reports state that his spouse could receive anywhere from $4 billion to $8 billion.

The other most expensive divorces in history are:

  • $ 2.5 billion divorce of art dealer Alec Wildenstein
  • $1.2 billion divorce of businessman Bernie Ecclestone
  • $850 million divorce of businessman Adnan Khashoggi
  • $460 million divorce of businessman Craig McCaw
  • $425 million divorce of actor Mel Gibson
  • $300 million divorce of businessman Roman Abramovich
  • $168 million divorce of basketball player Michael Jordan

Details Affecting the Divorce Settlement

How the assets will be split revolves around two issues: the date when the separation occurred and how much Hamm's spouse contributed to Continental Resources.

The earlier the separation occurred, the less money Hamm's spouse is entitled to, since the company has experienced immense growth in the past few years. Documents show that Hamm's spouse contributed as an executive to Continental Resources.

The couple did not sign a prenuptial agreement before their marriage. Even if they had, the amount of money that Hamm has made would make the agreement challengeable.

Have questions about pursuing a divorce? Contact a lawyer at the Meyers Law Group today for counsel.

Categories: Divorce