Billionaire oil tycoon says he can't pay $1B divorce settlement

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Friday, January 2, 2015
Harold Hamm
AP Photo/Kevin Cederstrom-AP

A billionaire oil tycoon says that the continuing drop in oil prices means he can no longer afford his divorce.

Harold Hamm is appealing the terms of his divorce in which he agreed to pay $1 billion to his ex-wife.

Hamm owns a 68 percent stake in an oil business and says the drop in oil has dramatically affected his finances.

Hamm's ex-wife, Sue Ann Hamm, says she helped Hamm amass his fortune, and that she is entitled to more than the $1 billion settlement.