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Man ordered to pay nearly $1B in divorce settlement

Published: Nov. 11, 2014 at 6:37 PM EST|Updated: Nov. 11, 2014 at 7:30 PM EST
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OKLAHOMA CITY (KFOR/CNN) - Oil magnate and continental resources chief executive officer Harold Hamm was ordered to pay nearly $1 billion in a divorce judgment.

Hamm was ordered by the judge to pay his ex-wife, Sue Ann Hamm, about one-third of the funds by the end of the year.

Harold Hamm is the richest man in Oklahoma.

Under the terms of the ruling, which is subject to appeal, the rest of the money will be paid in installments with an estimated $7 million a month.

Copyright 2014 KFOR via CNN. All rights reserved.