Oklahoma Oilman's Ex-Wife Plans to Appeal Nearly $1 Billion Divorce Settlement
Turns out a nearly $1 billion divorce settlement is not as “fair and equitable” as it sounds – at least in the eyes of the ex-wife who has decided to appeal for more.
The eye-popping figure made headlines earlier this week after a judge sanctioned the payout to Sue Ann Hamm while finalizing her split from Oklahoma oilman Harold Hamm on Monday.
Harold, in an email to Forbes.com, described the outcome as “fair and equitable,” and his attorney Mike Burrage told as much to PEOPLE, saying, “We think that the judge heard all of the evidence, and that it’s a fair resolution of the divorce case.”
Sue Ann and her attorneys disagree.
“Sue Ann is disappointed in the outcome of this case,” attorney Ron Barber said in a statement shared with PEOPLE. “She dedicated 25 years as Harold’s faithful partner in family and business. She feels that an award of less than 6 percent of the couple’s wealth, which had grown during the marriage up to the date of trial by more than $18 billion, is not equitable, and she plans to appeal the Court’s decision.”
Harold, the founder and CEO of Continental Resources – whose wealth as of Monday was estimated by Forbes.com at $14 billion – was hailed last May by the magazine as “The Billionaire Oilman Fueling America’s Recovery.”
Divorce papers filed after Sue Ann asked her husband to move out in February 2012 cited “mutual irreconcilable differences.”
Following more than two months of divorce proceedings that unfolded behind closed doors to protect Harold’s company, Oklahoma County District Judge Howard R. Haralson issued an 80-page order awarding Sue Ann a total settlement of about $995 million. It included two Oklahoma homes, a California ranch, a majority stake in a separate company, $322.7 million due by the end of the year and, starting in January, at least $7 million a month until the settlement was paid.
Harold got to keep a $10 million airplane, an Oklahoma office building, a house in Branson, Missouri, and two horses at the ranch in Carmel Valley, California. Significantly, he also retained his majority stake in his publicly traded oil company.
Sue Ann’s attorney says he plans to file his appeal by Dec. 10.