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Breakingviews: Road to Splitsville

Friday, June 14, 2013 - 03:25

June 14 - Jeffrey Goldfarb and Christopher Swann discuss the headline-making divorces of billionaires Rupert Murdoch and Harold Hamm.

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They're breaking news we're very used to talking about splits of the corporate variety today were a little more personal -- to billionaires. Undergoing divorces. Rupert Murdoch filed for divorce from his wife Wendy. And Harold Hamm is in the middle of a divorce from our friends on the news side they're great scoop about the fact that he does -- prenuptial agreement. Chris you've been kind of comparing and contrasting the billionaires. What exactly have you found here. Well let me commend them seems to have and then -- is lesson is that he he had currently holds the world record for the largest publicly disclosed and doubles at least as far as we can -- right the -- sort of a dispute the street but it's a whopping number -- I felt like around the one point seven billion that was for intervals in 1999. Now very streaky when he got married -- that time. He signed a prenuptial agreements that we're assuming this divorce settlement will be less than the one -- -- does it -- it's going to be much impact on the company at least again these are sort of -- were sober person just what brought rice is reported as saying that attack according to their agreement that corporate control does not come into this thing is likely that handing some kind of check whole people or property rather than -- as. How -- is a very different case because he -- and that a majority stake in continental oil. At which he built from the ground up I started out cleaning this come from hold oil barrels when he was twenty years old. He's a real rags and historical values that he he doesn't have. Prenuptial agreement as the -- and got. And so potentially there now saying how he could pop Rupert slumber possesses very very sad that child's hands and because. That they're actually native has on the Forbes rich list 91 and 98 at eleven point two and eleven point three billion. At the moment Harold Hamm is that if -- -- -- tiny hundred million -- But speculation -- he could have a three billion -- it looks like it because that's his fortune -- eleven point three billion. The problem he has -- festival in I don't know I vacillate about today's outrage. Secondly. He made most of his fortune whilst he was married to -- when he married he was with a measly sixteen million dollars. And now it's -- to considerably colonel. And they've -- -- that apparently is not a particularly bad state to be married him. But the other problem is that she was a top executive at his based on the things she can do that you want to murder also help some morals that within the news corporate partners that we're not quite as significant. And of course but yet -- -- Ultimately takes here. Even yes exactly and I think she wasn't there at the ground rule that you say also that you the other part of this that you're looking is that hurled him -- a novel defense here. He's also become quite humble about as I was content into this -- rather ironic -- that little question I've had in the legal precedent whereby. If most of his money was made through good luck -- asset price appreciation. And he doesn't have chest and much is because I have a good luck here would be just the rising price of that we're going to take. I really do much of this company it's all -- -- just the right protect and and humidity does not become and if it really is his company he did create it. Apparently we will leave it there you can -- the divorces and we will be back with more breaking news next week.

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Breakingviews: Road to Splitsville

Friday, June 14, 2013 - 03:25