I suppose that at first it really didn’t sink in that Harold Hamm, big wheel at Continental Resources downtown, offered his ex-wife a divorce settlement of just under a billion dollars; anything over about fifty thou strains my comprehension. And I’ve certainly never written a check anywhere close to that, let alone to this:
This was the exact amount of the settlement specified by the court in granting the divorce, but she says it’s inadequate:
[Sue Ann] Arnall, a former Continental executive who was married to Hamm for 26 years, contends that her award of around $1 billion in cash and assets was inadequate and allowed Hamm to keep the lion’s share of a fortune her lawyers valued as high as $18 billion.
Harold Hamm had already paid his former wife more than $20 million during the divorce proceedings.
Hamm’s appeal contends that the $1 billion award was too steep. Hamm has lost billions tied to the value of his 68 percent stake in Continental in recent months, which his legal team blames on the sharp fall in oil prices.
Um, technically “the lion’s share” is the whole ball of wax, lions being generally unwilling to share. And no doubt Hamm’s lost a fair chunk of change in the current oil bust: market cap for CLR has dropped to about $12 billion, which means Hamm’s equity in the company is a hair over $8 billion. Still, were someone to hand me a check for a billion dollars, I don’t think I’d fuss — once it cleared, anyway.
And frankly, I think it’s weird to see that sum literally written out.
Update, 8 January: She’s changed her mind and will take the $974 million.