Harold Hamm Biography
Harold Hamm is an American entrepreneur primarily involved in the oil and gas business. He is best known for pioneering the development of the large shale oil resources of the Bakken formation. As of January 2018, Hamm’s net worth is estimated to be $14.2 billion, making him the 79th richest person in the United States. In 2012, presidential candidate Mitt Romney named Hamm as his energy advisor. Thereafter, Hamm made substantial monetary and advisory contributions to the election effort.
Harold Hamm Age
Hamm was born on December 11, 1945, in Lexington, Oklahoma, United States. He is 75 years old as of 2021.
Hamm stands at a height of 168 centimeters. He has a weight of 82 kilograms.
Harold Hamm Image
Harold Hamm Net worth
Hamm made a 13700 million dollar fortune with the CEO of Continental Resources. Made his 13700 million dollar fortune with CEO of Continental Resources. He has an estimated net worth of 14.8 billion USD.
Harold Hamm Family
Harold Hamm was born in Lexington, Oklahoma. He is the 13th and youngest child of Jane Elizabeth (née Sparks) and Leland Albert Hamm. Hamm was the last of 13 children born to sharecroppers. From a young age, he helped with many chores, including hoeing corn and picking cotton. In fact, his first memory was picking tomatoes barefoot in the warm Oklahoma red dirt. As a teenager, he went to work in the oilfield services business and by the age of 21, he had started his own one-man, one-pump-truck operation cleaning the bottom of barrels.
Harold Hamm Wife
Hamm married Judith Ann in 1987 but they later divorced. In April 1988, Hamm married Sue Ann Hamm (née Arnall) with whom he has two grown daughters, Jane and Hillary. Sue Ann is an economist and lawyer. She has had executive roles at Continental Resources. However, she filed for divorce on May 19, 2012, while Harold has said that he separated from Sue Ann in 2005.
Harold Hamm started his career as a small primary entrepreneur. He is a key player in Hiland Partners and Hiland Holdings as well as the shale oil-exploration company Continental Resources, Oklahoma’s fourth-largest public company. Continental Resources moved from the Continental Towers in Enid, Oklahoma, to Oklahoma City in 2012. Moreover, he was inducted into the Oklahoma Hall of Fame in 2011. Additionally, Hamm worked his way up from pumping gas and repairing cars to becoming CEO of his own billion-dollar company.
As a young man, he went to work in the oil patch. In 1967 at the age of 21, he founded his own company, Continental Resources. A company that was originally called Shelly Dean Oil Company, named for his two daughters. Hamm and Continental Resources pioneered the development of the Bakken Oil Field in Montana and North Dakota using both horizontally drilled wells and Hydraulic fracturing. Therefore, he became a billionaire and Continental Resources became a major oil producer.
As a result, he was given honorary degrees from Northwestern Oklahoma State University and the University of Oklahoma. The Harold Hamm Diabetes Center at the University of Oklahoma was named after Hamm, who has type 2 diabetes. The Harold and Sue Ann Hamm Foundation donated 10 million dollars to create the center. Besides, he is a member of the Global Leadership Council at Concordia College, Moorhead, Offutt School of Business.
Hamm appeared on the cover of Forbes in May 2014 in a story entitled “Harold Hamm: The Billionaire Oilman Fueling America’s Recovery”.
In January 2016, he stated that Saudi Arabia’s attempt to flood the crude market at a time of oversupply and concerns about weakening demand is not working, believing that oil prices will double in the end year of 2016, as Shawn Baldwin, Chairman of alternative investment firm. The AIA Group concurred with these statements. He is the third of five U.S. shale executives to withdraw from a scheduled speaking slot at the OPEC meeting in Vienna.
Hamm’s withdrawal comes days after a trade skirmish between China and the United States intensified. With China imposing $50 billion in tariffs on U.S. crude oil and other goods, a retaliatory measure on Washington’s tariffs of Chinese products.
The Continental is the largest oil producer in North Dakota’s Bakken shale formation. Also, has been a key supplier of crude oil to China, shipping more than 1 million barrels to the country since a U.S. crude export ban was lifted in 2015. Although it was unclear how China will replace that source of crude. Hence several OPEC countries produce crude grades similar to Continental’s Bakken wells. Continental spokeswoman Kristin Thomas confirmed Hamm’s withdrawal, saying the event did not fit with his schedule. Though, the company did not immediately respond to requests for further comment on the China tariffs.
Hamm Political involvement
Harold Hamm Shortly after being named energy advisor to the Romney campaign in March 2012, Hamm donated $985,000 to the pro-Romney super PAC Restore Our Future. On the eve of the Republican National Convention, Hamm was credited in a report with being among oil and energy executives consulted in a plan to devolve permitting on Federal lands to the state where the land is located.
Romney’s proposal, which was launched the same week as two industry fundraisers netted $10 million for the campaign, was seen as going beyond roots in the Sagebrush Rebellion of the 1970s and 1980s, as well as the sometimes controversial permitting policies of the George W.
Bush Administration in the 2000s.
Republican National Convention
On the third day of the 2016 Republican National Convention, held in Cleveland, Ohio, on July 20, while delivering a speech for the Republican presidential nominee Donald Trump, Hamm was critical of the Barack Obama administration’s policies for the energy sector. Citing the burden that federal regulations represented to American oil producers in an alleged attempt to drive gasoline prices soaring. In his speech, Harold Hamm also denounced the Iran nuclear deal struck by the U.S.
Department of State in 2015, saying that it would improve that country’s ability to export petroleum and enable Iranian development of the atomic bomb. He also spoke favorably of Trump’s policies for the oil and gas industry. Which he claimed, if they were implemented, would make Donald Trump the first President to guarantee America’s “energy independence”. In that same month, it was revealed that Donald Trump was considering Harold Hamm for energy secretary in his administration.
Hamm Seeking to dismiss quake scientists
Furthermore, on May 15, 2015, Harold Hamm Bloomberg reported that Hamm told Larry Grillot (the dean of the University of Oklahoma Mewbourne College of Earth and Energy) that he wanted certain earthquake researchers from the university dismissed. The scientists were involved in studying connections between oil and gas activity and the increase in earthquake activities in the state.
Joe Wertz, a reporter for StateImpact,[a] wrote that further examination of Hamm’s e-mail to Dean Grillot revealed yet another kind of threat: He also expressed an interest in joining a search committee charged with finding a new director for the geological survey,” according to Grillot’s e-mail. And, the dean wrote,” Hamm indicated that he would be ‘visiting with Governor [Mary] Fallin on the topic of moving the OGS out of the University of Oklahoma.
Harold Hamm Personal life
In 2014 Forbes reported that a ruling would allow the bulk of his ownership interest in Continental and hence his net worth to continue intact after the divorce. However, in August 2014, CNN and several other media outlets reported that Hamm could face a world record divorce settlement. With up to half of his estimated $20 billion fortune potentially being on the line. Though, on November 10, 2014, an Oklahoma County judge found that Hamm should pay his second wife $995.5 million.
According to the Wallstreet journal article published on January 7, 2015, “She rejected a divorce settlement check in the amount of $974,790,317.77. Thus stating it would jeopardize her appeal with Mr. Hamm.” Even so, on January 8, 2015, CNBC reported that Sue Ann Arnall had deposited the $975 million settlement check.
Harold Hamm Philanthropy
Harold G. Hamm, founder, chairman, and CEO, Continental Resources, has been selected for membership in the prestigious organization. Mr. Hamm joins 12 other accomplished business and civic leaders from across North America in receiving this honor in 2016. Since its establishment in 1947, the Horatio Alger Award is annually bestowed upon recognized leaders who have succeeded, despite facing adversity, and who are committed to both philanthropy and higher education. He said that growing up in rural Oklahoma did not hinder him from being a billionaire.
Less than a year later, Mr. Hamm established what would become Continental Resources. He has since built a grassroots startup into an NYSE-traded, top 10 producer of petroleum liquids in the United States. In recognition of his accomplishments, Mr. Hamm was named Ernst & Young’s “Entrepreneur of the Year” in 2007 and one of TIME Magazine’s “100 Most Influential People in the World” in 2012.
“Mr. Hamm learned the value of hard work from a young age,” said Byron Trott, president and CEO, Horatio Alger Association and 2011 Horatio Alger Award recipient.
“With a single truck and perseverance, he was able to turn a small startup into a billion-dollar business – and one that is changing the world in which we live. To induct someone of Mr. Hamm’s caliber of success into the Association is a true honor. So, I am certain that he will serve as a remarkable role model for our Scholars.” Today, as a voice for America’s oil and natural gas industry, Mr. Hamm is on a mission to help make America energy independent within the next decade.
He sits on a number of boards devoted to this cause, including the Domestic Energy Producers Alliance, which he co-founded, as well as the Oklahoma Independent Petroleum Association and the Oklahoma Energy Resources Board. Dedicated to developing the next generation of energy leaders, Mr. Hamm also established the Harold Hamm School of Geology and Geological Engineering at the University of North Dakota. He is passionate about finding a cure for diabetes, suffering from Type 2 diabetes himself. Accordingly, Hamm donated more than $30 million to found the Harold Hamm Diabetes Center at the University of Oklahoma Health Sciences Center.
In 2011, Mr. Hamm became a signatory of The Giving Pledge, committing to give away the majority of his wealth during his lifetime. Regarding the Horatio Alger Award, Mr. Hamm commented, “I consider myself extremely lucky to have discovered my passion in life at an early age. I always knew I wanted to work in the oil business, and I was determined to be successful despite the challenges that could have thwarted me. I could not be more grateful to receive this prestigious award. Therefore I look forward to meeting the Horatio Alger Scholars and helping them realize their own passions and achieve their dreams.”
Through its Members, Horatio Alger Association aims to educate young people about the limitless opportunities afforded to them by the free-enterprise system. To further this goal, the organization awards scholarships to outstanding high school students who are committed to pursuing higher education and giving back to their communities. Like Association Members, Horatio Alger Scholars have faced numerous challenges, but have also displayed unmatched resilience in overcoming them. Since the scholarship program was established in 1984, the Horatio Alger Association has provided more than $110 million to students in need.
Scholarships are funded solely through the generosity of Association Members, Life Partners, and friends. Mr. Hamm and 12 other honorees in the Member Class of 2016 will be officially welcomed into the organization during the 69th Annual Horatio Alger Award Induction Ceremonies in Washington, D.C., from March 31-April 2, 2016. In addition to recognizing these tremendous leaders, Horatio Alger Association will also honor its 2016 National Scholarship recipients. Thus affording both groups the opportunity to meet and learn from one another.