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Wednesday 7 January 2015

Its Not Enough?: Oil Billionaire's Ex-Wife Rejects A Divorce Cheque Of $975 Million

The ex-wife of an Oklahoma oil billionaire magnate, Sue Ann Arnall who was awarded the second biggest divorce settlement ever in the United States has turned down a personal check for $974.8 million from her husband, Harold Hamm on Tuesday as she continues to fight for more money. Hamm agreed to pay the nearly $1 billion back in November. Sue appealed the ruling made last month and slammed the court's ruling as 'inappropriate' and 'not fair', believing her ex-husband is worth an estimated $18 billion.
He's somewhat of a legend in the oil business, having built Continental Resources (CLR) from the ground up and led the development of North Dakota's Bakken oil field. But Arnall, an economist and a lawyer who held executive positions in the company, has said she is entitled to more. She filed for an appeal, claiming that the fortune was due to both her work and his.

The couple was married for 26 years, have two children and had no prenuptial agreement. Hamm claims that with the dramatic drop in oil prices, his company's value has taken a hit, along with his wealth. Despite writing the check, Hamm will move forward with his appeal, his attorney Craig Box said.

Hamm had already paid his former wife more than $20 million during the divorce proceedings. and Arnall has taken ownership of the Oak Ridge Ranch in Carmel, California, a property purchased by the couple in 2011 for $14.7 million, along with the couple's two of their Oklahoma properties, as per the court's ruling.

Mr. Hamm will take their $750,000 home in Branson, Missouri and a $300,000 log cabin that sits on 154 acres in Major County, Oklahoma. Arnall made it clear she believed the marital wealth she was entitled to had been grossly undervalued.

The only spouse to ever score a bigger settlement in the United States was Jocelyn Wildenstein, who reportedly received $2.5 billion after splitting with her businessman and art dealer husband Alec in 1999.

Source: MailOnline  

1 comment:

  1. She knows exactly what he is worth and we don't know the details of her contributions to his wealth-----'nuff said!

    ReplyDelete