Russia isn't the only one rueing the sharp drop in oil prices. When Oklahoma billionaire Harold Hamm was ordered to pay ex-wife Sue Ann Arnall a record $1 billion in their divorce hearing last month, he called the judgment "fair and equitable" — Arnell's lawyers had sought half the couple's estimated $17 billion fortune.
But now that oil has fallen to $57 a barrel, cutting the value of Hamm's stock in his company, Continental Resources, to $9.3 billion, from as much as $19 billion in August, Hamm has appealed the "erroneous and inequitable" divorce ruling, Reuters reports. Continental is the biggest driller in the North Dakota fracking boom.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The marvelous powers of mucusThe Explainer It's snot just a pesky cold symptom
-
What to know about the 'no tax on tips' policyThe Explainer The new bill would make tip income exempt from federal income taxes
-
Dehorning rhinos sharply cuts poaching, study findsSpeed Read The painless procedure may be an effective way to reduce the widespread poaching of rhinoceroses
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
-
Crafting emporium Joann is going out of businessSpeed Read The 82-year-old fabric and crafts store will be closing all 800 of its stores
