Money is a prime motivator in almost all Virginia divorce cases. A qualified attorney can help you obtain a fair settlement and equitable outcome. But how, exactly, should the court define “fair” when extremely large amounts of money are involved?
The Harold Hamm Divorce Case
As we reported a few months ago, energy magnate Harold Hamm recently separated from his wife, Sue Ann Hamm. Their settlement made international headlines due to the sheer amount of assets involved. Sue Ann received nearly $1 billion, making the split one of the largest cash settlements in divorce history. Despite this huge settlement, Sue Ann chose to appeal, arguing that the judge’s settlement offer was unfair to her.
A Closer Look at the Numbers
Before jumping to conclusions about greed, consider the numbers. At the time of the divorce, Harold Hamm was the 24th richest man in America, with a personal fortune of $18.7 billion. In comparison, Sue Ann’s $1 billion settlement amounted to just 5% of Harold’s net worth.
When judged by percentage of net worth, the Hamm divorce is far from the most expensive in history.
Other High-Profile Divorce Settlements
- Stewart Rahr (2015): Rahr’s ex-wife received $250 million, or 16% of his net worth.
- Craig McCaw (1997): McCaw’s ex-wife received $460 million, which constituted 23% of his fortune.
- Rupert Murdoch: Murdoch’s second divorce resulted in his ex receiving $1.7 billion—25% of his net worth. Undeterred by this financial loss, Murdoch remarried just 17 days later.
Why High-Profile Divorces Are Different
Most divorces don’t involve such large sums of money. High-profile divorces differ from average ones not only because of the amounts involved, but also because extremely wealthy people often hold their assets in complex instruments. This can complicate the process of determining who owns what and who owes what.
Need Legal Assistance?
If you need help with your divorce case, contact our experienced Fairfax divorce attorneys today at (888) 530-4374 to schedule a consultation. We offer compassionate, strategic guidance to help you navigate the process and regain peace of mind during this challenging time.
