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The Water Cooler
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Divorce to cost Harold Hamm nearly $1 billion
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<blockquote data-quote="Ace_on_the_Turn" data-source="post: 2657550" data-attributes="member: 27417"><p>It may seem like a lot, but she got screwed, big time. Like out of about $5 billion more she was entitled to. When they married he was worth something like a billion, give or take. Most of his net-worth is shares of stock in Continental Resources, the company he founded. Here's the deal, he had to claim that the increase in the value of his stock had nothing to do with him or his efforts. Since he owned the stock before they married any increase that's outside his control is not considered marital property. Any increase due to his skills and efforts, is marital property and subject to a 50/50 split. So he claimed in court that the increase in the value of the stock would have happened even if was not the CEO. Of course he doesn't plan on giving back any of the bonuses he was awarded for his leadership.</p></blockquote><p></p>
[QUOTE="Ace_on_the_Turn, post: 2657550, member: 27417"] It may seem like a lot, but she got screwed, big time. Like out of about $5 billion more she was entitled to. When they married he was worth something like a billion, give or take. Most of his net-worth is shares of stock in Continental Resources, the company he founded. Here's the deal, he had to claim that the increase in the value of his stock had nothing to do with him or his efforts. Since he owned the stock before they married any increase that's outside his control is not considered marital property. Any increase due to his skills and efforts, is marital property and subject to a 50/50 split. So he claimed in court that the increase in the value of the stock would have happened even if was not the CEO. Of course he doesn't plan on giving back any of the bonuses he was awarded for his leadership. [/QUOTE]
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Divorce to cost Harold Hamm nearly $1 billion
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