Harold Hamm’s $975 Million Divorce Check: First Rejected, Then Cashed, Now Taxed

Billionaire Continental Resources CEO Harold Hamm wrote a $975 million personal check to his ex-wife Sue Ann Arnall this week. It was meant to settle a bitter divorce that’s been in the courts for several years. At first, she rejected it, saying she was appealing. Then she abruptly changed her mind. $975 million is a lot of money.

Good thing that when Mr. Hamm got the news that she had refused the money he didn’t put a stop payment order on the check. That gave his ex time to change her mind and get to the bank. It was a dramatic change of events from earlier this week. Mr. Hamm’s attorney Craig Box said they were called by the bank when Ms. Arnall presented the check for payment.

That means the long litigated divorce will soon be over. Mr. Hamm founded Continental Resources in 1967, and is worth more than $8 billion. After a 25 year marriage, some observers expected that this most expensive divorce might cost Mr. Hamm up to $5 billion. From that perspective, $975 million is a bargain. The timing was good too.

 

Source: Forbes

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