Shale Billionaire Hamm Keeps Full Control With ‘Estate Planning’
- Founder slashed personal stake in stock distribution to family
- Arrangement was done for estate-planning purposes: SEC filing
Harold Hamm
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
Harold Hamm said he’s retaining full control of shale driller Continental Resources Inc. after a company filing late Wednesday signaled the founder had slashed his stake and distributed shares to family members.
“Full control stays with me, so this changes nothing in that regard,” 76-year-old Hamm said by phone Wednesday evening after the filing indicated he’d cut his personal stake by more than two-thirds. “What was done is just for estate planning. This started back in 2015.”