Harold Hamm

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Harold Glenn Hamm
Harold Hamm 2012 Shankbone.JPG
Hamm at the 2012 Time 100 gala
Born (1945-12-11) December 11, 1945 (age 75)
Lexington, Oklahoma, United States
OccupationBusinessman
Political partyRepublican
Spouse(s)Judith Ann (divorced 1987)
Sue Ann Arnall (divorced 2014)
Children5
Two buildings
The Continental Towers in Enid, Oklahoma

Harold Glenn Hamm[1] (born December 11, 1945) is an American entrepreneur in the oil and gas business. He is known for extracting shale oil resources.[2] As of August 17, 2021, Hamm's net worth is estimated to be $10.7 billion, making him the 224th richest person in the United States.[3] He is the owner of Continental Resources. In 2012, presidential candidate Mitt Romney named Hamm as his energy advisor,[4] and Hamm donated to and advised Romney's election effort.

Early life[]

Hamm was born in Lexington, Oklahoma, the 13th and youngest child of cotton sharecroppers, Jane Elizabeth (née Sparks) and Leland Albert Hamm.[5][6]

Career[]

In 1967, he founded Shelly Dean Oil Company,[7] which would later become Continental Resources.[8] The company pioneered the development of the Bakken oil field in Montana and North Dakota using horizontally drilled wells and hydraulic fracturing. When Continental Resources grew into a major oil producer, Hamm became a billionaire.[2][9] Continental Resources, known for its use of shale oil, is Oklahoma's fourth-largest public company.[10][11]

Political involvement[]

Shortly after being named energy advisor to Republican Mitt Romney's presidential campaign in March 2012, Hamm donated $985,000 to the pro-Romney super PAC Restore Our Future.[12]

In January 2016, Hamm claimed that Saudi Arabia was unsuccessfully attempting to "flood the crude market at a time of oversupply."[13]

At the 2016 Republican National Convention, Hamm criticized the Obama administration's energy policies,[14] claiming that Obama was "burdening oil companies with greater regulations" so that gasoline prices would spike. Hamm also denounced the Iran nuclear deal struck by the Department of State in 2015, asserting that Iran would be more able to export petroleum and develop an atomic bomb.[15]

In the 2016 United States presidential election, Republican candidate Donald Trump considered appointing Hamm as energy secretary.[16] He was never appointed during Trump's presidency.

Involvement in education[]

Hamm has honorary degrees from Northwestern Oklahoma State University and the University of Oklahoma.[17]

The Harold Hamm Diabetes Center at the University of Oklahoma was named after Hamm, who has type 2 diabetes.[17] To create the center, the Harold and Sue Ann Hamm Foundation donated $10 million.[8] Hamm is a member of the Global Leadership Council at the Offutt School of Business of Concordia College, Moorhead.[18]

On May 15, 2015, Bloomberg reported that Hamm told the University of Oklahoma that he wanted some earthquake researchers to be dismissed.[19] The scientists were studying connections between oil- and gas-drilling activity and increases in earthquake frequency in Oklahoma.

Awards and recognition[]

Hamm was inducted into the Oklahoma Hall of Fame in 2011.[20]

Forbes featured him on its cover in May 2014, publishing the story "Harold Hamm: The Billionaire Oilman Fueling America's Recovery".[21]

Personal life[]

Hamm's first wife was Judith Ann; they had three children. They divorced in 1987.[5][22]

In April 1988, Hamm married Sue Ann Arnall, with whom he had two children.[5] Sue Ann is an economist and lawyer,[23] and has been an executive at Continental Resources. She filed for divorce on May 19, 2012,[5][24] but Hamm said that he separated from her in 2005.[5] Several media outlets reported that up to half of Hamm's estimated $20 billion fortune could be transferred to his wife, which would become a world record for most money transferred in a divorce.[25] While a judge ruled that his ex-wife would receive $1 billion, she rejected the settlement, seeking a greater sum.[26] According to CNBC, Arnall deposited a $975 million in 2015.[27]

Hamm lives in Oklahoma City, Oklahoma,[28] and owns homes in Enid and Nichols Hills, both in Oklahoma.[5][29]

References[]

  1. ^ "Harold Hamm, Chairman" (PDF). Document Repository. United States House of Representatives.
  2. ^ a b Zuckerman, Gregory (2013). The Frackers: The Outrageous Inside Story of the New Billionaire Wildcatters. Portfolio Penguin. ISBN 978-1-59184-645-1.[page needed]
  3. ^ "Bloomberg Billionaires Index: Harold Hamm". Bloomberg L.P. Archived from the original on August 17, 2021. Retrieved August 17, 2021.
  4. ^ Carroll, Joe (March 1, 2012). "Romney Names Oklahoma Oil Billionaire Hamm as Energy Adviser". Bloomberg.
  5. ^ a b c d e f Grow, Brian; Schneyer, Joshua (March 21, 2013). "Looming divorce could threaten oil baron's empire". Reuters. Retrieved March 21, 2013.
  6. ^ "Obituaries". The Purcell Register.
  7. ^ "Harold Hamm: Executive Profile & Biography", Business Week
  8. ^ a b "Harold Hamm Biography", 2010 New Horizons in Oil & Gas Conference
  9. ^ Hamm, Harold (October 1, 2011). "How North Dakota Became Saudi Arabia". The Wall Street Journal (Interview). Interviewed by Stephen Moore.
  10. ^ Allen, Cindy (March 26, 2011). "This is not a drill". The Enid News & Eagle.
  11. ^ Vardi, Nathan (February 2, 2009). "The Last American Wildcatter". Forbes.
  12. ^ Braun, Stephen (May 23, 2012). "Harold Hamm, Romney Oil Adviser, Also A Big Donor To Super PAC Restore Our Future". Huffington Post. Washington, DC. Associated Press. Archived from the original on May 27, 2012.
  13. ^ Baldwin, Shawn. "Shawn Baldwin with Harold Hamm Forbes #24". Fast Company. Retrieved January 13, 2016.
  14. ^ Panzar, Javier (July 20, 2016). "Potential Trump Cabinet pick Harold Hamm makes convention debut". Republican National Convention 2016 Days 1 through 3. Los Angeles Times. Retrieved June 15, 2021.
  15. ^ Hamm, Harold (July 21, 2016). Full speech, day 3 (Speech). 2016 Republican National Convention. Cleveland, Ohio. Retrieved December 11, 2016 – via YouTube.
  16. ^ Conlin, Michelle (July 21, 2016). "Exclusive: Trump considering fracking mogul Harold Hamm as energy secretary – sources". Reuters. Retrieved July 21, 2016.
  17. ^ a b "Harold Hamm: The Business of Benevolence", Distinctly Oklahoma, November 2010
  18. ^ "Global Leadership Council". Retrieved November 14, 2015.
  19. ^ Benjamin Elgin (with Matthew Philips), "Oil CEO Wanted University Quake Scientists Dismissed: Dean's E-Mail", BloombergBusiness, May 15, 2015. Retrieved 2015-05-18.
  20. ^ Neal, James (November 12, 2011). "Harold Hamm selected to Oklahoma Hall of Fame". The Enid News & Eagle.
  21. ^ Helman, Christopher (May 5, 2014). "Harold Hamm: The Billionaire Oilman Fueling America's Recovery". Forbes.
  22. ^ Zuckerman, Gregory (September 24, 2012). "Harold Hamm Makes Big Gift to University of North Dakota". The Wall Street Journal.
  23. ^ Forbes, March 23, 2013.
  24. ^ Frank, Robert (March 22, 2013). "Will the Hamms' Divorce Pressure Continental's Stock". CNBC.
  25. ^ Hargreaves, Steve (August 12, 2014). "Oil tycoon could face biggest divorce judgment ever". CNNMoney. CNN.
  26. ^ Ailworth, Erin (January 7, 2015). "Harold Hamm's Ex-Wife Rejects $975 Million Divorce Settlement Check". The Wall Street Journal.
  27. ^ Cordova, Elisabeth Butler (January 8, 2015). "Harold Hamm's ex cashes the big check after all". CNBC.
  28. ^ Forbes, Profile.
  29. ^ Staff writer (March 21, 2013). "Continental CEO Hamm, wife Sue Ann are divorcing". The Enid News & Eagle. Archived from the original on August 19, 2021. Retrieved August 19, 2021.
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