US oil tycoon to pay ex-wife more than $1 billion in divorce settlement

Sue Ann Hamm stands in the courthouse hall before divorce proceedings with Harold Hamm, founder and chief executive of Continental Resources, in Oklahoma City, Oklahoma, in this Sept 22, 2014 file photo. Multibillionaire American oilman Harold Hamm h
Sue Ann Hamm stands in the courthouse hall before divorce proceedings with Harold Hamm, founder and chief executive of Continental Resources, in Oklahoma City, Oklahoma, in this Sept 22, 2014 file photo. Multibillionaire American oilman Harold Hamm has been ordered to pay almost US$1 billion (S$1.3 billion) to his ex-wife to settle one of the most expensive divorce cases in US history. -- PHOTO: REUTERS
Harold Hamm, founder and chief executive of Continental Resources, enters the courthouse for divorce proceedings with wife Sue Ann Hamm in Oklahoma City, Oklahoma, in this Sept 22, 2014 file photo.  Multibillionaire American oilman Harold H
Harold Hamm, founder and chief executive of Continental Resources, enters the courthouse for divorce proceedings with wife Sue Ann Hamm in Oklahoma City, Oklahoma, in this Sept 22, 2014 file photo.  Multibillionaire American oilman Harold Hamm has been ordered to pay almost US$1 billion (S$1.3 billion) to his ex-wife to settle one of the most expensive divorce cases in US history. -- PHOTO: REUTERS

WASHINGTON (AFP) - Multibillionaire American oilman Harold Hamm has been ordered to pay almost US$1 billion (S$1.3 billion) to his ex-wife to settle one of the most expensive divorce cases in US history.

According to a ruling filed in Oklahoma on Monday, the chief executive of Continental Resources owes his former wife Sue Ann Hamm US$995,481,842 for "property division alimony".

Hamm, 68, is one of America's richest people. His 68 per cent stake in Continental Resources is worth nearly US$14 billion, according to Forbes.

Time magazine included him in its 2012 list of the 100 most influential people, noting how he had grown his business through the use of hydraulic fracturing (fracking).

The couple were married in 1988.

Hamm must pay Sue Ann, 58, nearly US$323 million by the end of the year, then the rest must be paid off in monthly installments of at least US$7 million, plus interest.

He had already paid her more than US$22 million.

The ruling is subject to appeal.