Sue Ann Arnall, the ex-wife of Oklahoma oil tycoon Harold Hamm, has rejected the $975 million divorce settlement awarded to her by an Oklahoma court. Arnall appealed the ruling citing 78 errors which she believes led the judge to undervalue her stake in Hamm’s fortune. She believes the court’s ruling was not fair because Hamm was worth an estimated $18 billion.
Hamm’s lawyer, Michael Burrage, released a statement saying, “Ms. Arnall, through her counsel, stated that they were rejecting the payment because Ms. Arnall did not want to risk the dismissal of her appeal by acceptance of the benefits.”
Sue Ann’s legal counsel also released a statement saying, “As Sue Ann has stated previously, 6 percent is not a fair proportion of the wealth the couple accumulated during their marriage, and she trusts that a more equitable division of the marital estate will result from this appeal.”
Arnall was an economist and a lawyer who has held executive positions in Hamm’s company, Continental Resources. According to Arnall’s appeal, the company’s fortune is due to both Hamm’s work and hers and that she is entitled to so much more than the $975 million awarded to her. Hamm and Arnall have been married for 26 years and they have two children together. It is worth noting that the couple had no prenuptial agreement when they got married. Aside from the $975 million check, Hamm also paid Arnall millions during the divorce proceedings. She was also awarded property including the couple’s $14.7 million Oak Ridge Ranch in California, as well as a couple of their Oklahoma properties. Despite writing the check, Hamm will also file an appeal stating that outside factors (including a significant dip in oil prices) have taken their toll on both the company and his wealth, saying that his fortune is actually worth less than Arnall’s estimate. The $975 million awarded to Arnall is the second largest divorce settlement in the United States. Jocelyn Wildenstein, who was awarded $2.5 billion, remains to be on the top spot of the most expensive divorce cases in America.