CEO writes $975 million check to ex-wife - she says its not enough


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Harold Hamm, an oil exec in Oklahoma was forced to write a court-ordered check to his ex-wife.

The check was for nearly $1 Billion , she refused it because it wasnt enough.

It would leave him with the bulk of the wealth estimated to be as much as 18 Billion, and she couldnt allow that...

Here is the story

 

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I would have rejected it, too. 1 billion out of 18? Make it 9 and we'll call it even.

An even split would be expected in a Community Property state, but Oklahoma isn't one of them. It's a an Equitable Distribution state.

http://www.divorcesupport.com/divorce/Oklahoma-Property-Division-Factors-696.html

Oklahoma Property Division Factors

In Oklahoma, the property and debt issues are typically settled between the parties by a signed Marital Settlement Agreement or the property award is actually order and decreed by the District Court within the Decree of Divorce.

Oklahoma is referred to as an "equitable distribution" state. When the parties are unable to reach a settlement, the District Court will take the following approach to dividing the assets; First, it will go through a discovery process to classify which property and debt is to be considered marital. Next, it will assign a monetary value on the marital property and debt. Last, it will distribute the marital assets between the two parties in an equitable fashion. Equitable does not mean equal, but rather what is deemed by the District Court to be fair.

A decree ordred by the court will confirm for each spouse the property owned by him or her before marriage and the undisposed-of property acquired after marriage by him or her in his or her own right.

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Was it not enough to pay for a double-wide and still have enough left for a Jeep Rubicon to park out front?

 

I never understood why a spouse is entitled to half, especially if they didn't contribute to earning it. I'm going to assume in this situation that he did all the earning and she merely provided the sex organs?

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she's looking at long term money through other means. if she took the check, her lawyer probably said she stood to lose the objective goal

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Lawyers told her to wait - because he cut the check without issue - Im sure they said "Never swing at the 1st pitch!  You deserve so much more - $1 Billion wont give you the kind of life you are entitled too"

But in reality its because they probably get 30%

$1 billion is not enough, she thinks she deserves more.... unbelievable.

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So what did she actually do to EARN $9 billion, other than being married to the guy?

 

If she actually helped earn it, fine; but if her sole contribution towards the fortune was marrying the guy, why should she even get $1 billion of it?  She wants to leave, then she should leave and also leave -everything- that's a part of the marriage.

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I'll marry and divorce him for that kind of money!

 

I would like to know the reasons for divorce, I would like to think (if I were married) and I split from my misses we would be civil and divide things in half fairly. I earn more than her so I'll pay my half of the debt back quicker :p

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Basically, the law tends to recognise that by being the female spouse that you have stayed home and done the home-work for the income earner.  Done the things that allow him to be the earner - cooked, cleaned, ironed, etc.  I hardly think this is hugely likely here.

 

I love how my wife and I split things:

 

What did you have when you came into this?  Her

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its situations like this that make me avoid getting married. why does devorce have to end in money grabbing situations like this. my father and step mother got divorced and she wanted a 60 / 40 split on the sale of the house that they bought together with the money from the sale of a business that they ran for 20 years, after moving back from south africa where they moved to after selling up the business in the 1st place.

 

shes such an unnameable person she also went for half of his army pension also.

 

I think the mans ex wife in this story is lucky to have had the life she has and should be happy with what shes getting from him.  

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So what did she actually do to EARN $9 billion, other than being married to the guy?

Stupid divorce laws. He shouldn't give her 0 cent if she didn't contribute in any way to earn that.

She was a lawyer at the time of the marriage and went on to various executive roles within the company.

 

At the end of the day, I find the idea of such wealth obscene. Even if they were to do an equal split he would end up with between $4.5-9bn, which is more wealth than any one person should have and more than could be spent in a lifetime. And where did that money come from? Oil, a resource that is hugely damaging to the planet. His profit, his materialism, comes at the expense of the hundreds of millions, billions of people affected by climate change. It's also worth looking at what people do when they have such obscene wealth - it should come as no surprise that he donated $1m to Romney in his 2012 election campaign and held a fundraising event that raised over $2m for the Republican party. The average person can't wield that sort of influence.

 

This case highlights everything that is wrong with capitalism. A 50/50 split would have ZERO impact on his quality of life. The idea that anyone would waste years of their life on a bitter divorce just to save a few billion dollars that they'll never be able to spend is absurd. Capitalism needs to be reigned in.

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Was it not enough to pay for a double-wide and still have enough left for a Jeep Rubicon to park out front?

 

I never understood why a spouse is entitled to half, especially if they didn't contribute to earning it. I'm going to assume in this situation that he did all the earning and she merely provided the sex organs?

 

Right our of my mind !

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gold digger

 

 

Greed. . .

 

 

So what did she actually do to EARN $9 billion, other than being married to the guy?

 

If she actually helped earn it, fine; but if her sole contribution towards the fortune was marrying the guy, why should she even get $1 billion of it?  She wants to leave, then she should leave and also leave -everything- that's a part of the marriage.

 

I'm not sure why this stuff is even floating around. I guess it is sexism?

 

They were married for 26 years. Anything earned by them as a couple in that 26 years is theirs evenly. There shouldn't be any debate about this.

 

She could be "doing nothing" to "earn the money" because they agreed on this as a couple, like stay at home parents agree on one to stay home and suffer earning loses, and she shouldn't be negatively viewed for this.

 

If he wanted all of his money for himself and not to split with his spouse then he could have stayed single. You don't have to get married for any reason in this modern age. You can bed partners without marriage and all that if that is your desire...

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