Billionaire businessman Harold Hamm is undergoing divorce from his second wife. The couple married in 1988, and have two adult children. Hamm also has three adult children from a marriage that was dissolved in 1987.
The divorce papers, filed on May 18, listed “Jane Doe” as the plaintiff. The couple has obtained a confidentiality order from the court regarding the details of the divorce. This is not the first divorce proceeding for the couple. Hamm filed for divorce in 1998 on the grounds of “irreconcilable incompatibility.” Approximately one month later, the suit was withdrawn. Hamm’s wife filed for divorce in October 2005 and withdrew the petition in December of the same year. Unsealed court records show that the court has awarded $12 million to Hamm’s wife while the current divorce is pending.
Hamm is listed in Forbes as one of the richest people in the world. His estimated net worth is approximately $11.3 billion. The bulk of his wealth stems from his majority interest in Continental Resources, Inc. Hamm is the founder and Chief Executive Officer of the company. He owns 68 percent of the shares, which have an estimated value of approximately $10.88 billion. California residents may remember Hamm from Mitt Romney’s presidential campaign as he chaired the candidate’s energy advisory committee.
High-asset divorces can be contentious. One way to help avoid a lengthy court battle is for spouses to have an attorney draft a prenuptial agreement prior to the marriage. Alternatively, if no agreement exists, an attorney may help negotiate a resolution to some of the issues that face couples in a high-asset divorce with an eye toward making the process flow smoothly.
Source: News OK, “Continental Resources’ Harold Hamm confirms divorce proceedings,” Paul Monies, March 22, 2013