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This article directly stems from the research process for our American single family office database. Our list of U.S. single family offices includes the most important family investment vehicles that invest in various areas, such as financial markets, real estate, venture capital, private equity, and renewables.
Hamm founded and is the chairman of one of America’s largest independent oil companies, Continental Resources. Together, with his five children, they collectively own over 80% of the company. Thanks to the oil company, Hamm has amassed a net worth in the region of $22.5bn as of November 2022 and is in the top 100 world’s richest people according to Forbes. In this article, we will investigate if the Hamm family has founded a family office to manage their wealth.
Hamm family manages wealth through Continental Resources
In October 2022, Hamm negotiated a deal to take Continental Resources private in order for the company to drill more and increase output. In order to do so, Hamm bought out shares not owned by the Hamm family which was valued at $4.2bn. As previously mentioned, Hamm distributed shares to his five children worth $2.3bn through the family holdings office, Harold Hamm Family LLC. Hamm also used the family trust to arrange the deal with shareholders and take Continental Resources private. Hamm also holds a strong philanthropic interest, he has donated over $65m to the Harold Hamm Diabetes at the University of Oklahoma focused on research prevention and treatment. At the University of North Dakota, he also established the school of Geology and Geological Engineering.
Picture source: Colton Sturgeon