Billionaire Harold Hamm is getting a divorce without a prenup | Lane & Lane, LLC
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Billionaire Harold Hamm is getting a divorce without a prenup

There may be people in New Jersey who would be shocked that a billionaire doesn't have a prenuptial agreement. As it turns out, Harold Hamm, who made his money in the oil business, never signed a prenuptial agreement with his wife. Now that they are getting a divorce, he is going to have to share his fortune of somewhere in the neighborhood of $11 billion.

His estranged wife could end up being one the richest women in the country when the divorce is finalized. This is in part to a recent agreement the couple made with regard to fixing a separation date to use for valuation purposes. Up until this point, the couple could not agree on when they separated. Hamm's wife moved from the couple's home in one part of the state to another home elsewhere in 2003, but she did not file for divorced until 2012. The couple recently decided to use a date in 2012.

This is crucial to the business valuation that will be done by an independent appraiser the couple has agreed to use. In 2007, Hamm's business increased nearly five times in value. Had they used the date that Hamm's wife stopped living in the same house with him, the amount in question would be substantially lower.

This valuation process could end up taking a substantial amount of time and could potentially cost Hamm billions of dollars. Had the couple signed a prenuptial agreement, this time and money may not have been spent. As it is, the divorce may end up being a very public and very expensive affair. Since this could end up being the largest divorce settlement thus far in our country, New Jersey residents may want to follow this case.

Source: nbcnews.com, "No prenup could cost oil baron billions in divorce," June 14, 2013

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