Ex-wife of billionaire oil tycoon rejects 'unfair' $975million divorce settlement

Sue Ann Arnall has instructed her lawyers to return the $975million handwritten cheque saying that she is ‘worth more’.

15:25 07 January 2015

A billionaire oil tycoon has offered his estranged wife Sue Anne Arnall $975million in a divorce settlement only to get the handwritten cheque sent back to him.

Ms Arnall rejected the offer saying that she is worth more. She then instructed her legal team to return the cheque as she believes that she is entitled to the empire once valued at £12billion.

Forbes estimates that he’s worth £5.2billion. The billionaire CEO of oil driller Continental Resources made claims that he lost more than half his fortune due to fall in oil prices in the last few months.

Ms Arnall, who has reverted to her maiden name, was married to Mr Hamm for 26 years. She previously received £13million from Mr Hamm during their divorce proceedings. The couple, who did not sign a pre-nuptial agreement, have two adult daughters.

Since they married, Continental Resource’s worth has grown from £33million to £13billion. Mr Hamm owned his shares in the company before they got married. However, under Oklahoma law, the shares’ increase in value since 1988 must be fairly divided with Ms Arnall.