Reuters revealed a lack of a prenup could lead an oil billionaire to pay the largest divorce settlement in history. | Blog | Thomson Reuters Eikon Thomson Reuters Eikon
Reuters published an in-depth Special Report on the dramatic divorce of oil baron Harold Hamm, who owns more oil in the ground than any other American and whose fortune exceeds $11 billion. Reuters revealed that the Continental Resources chief and his wife, Sue Ann, never signed a prenup agreement when they were married 25 years ago.
The lack of prenup result could be the largest divorce settlement in history.
To finance a multi-billion-dollar settlement, Harold Hamm could be forced to sell a portion of his 68 percent stake in Continental on the open market to raise cash, or sell his interests in a network of firms that do business with Continental.
RBC Capital has deemed the divorce a “wild card,” with one analyst saying a sale of a large block of Continental shares would probably send the share price down, at least temporarily. But if Hamm put more shares onto the market, investors might eagerly snap them up.
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