- 7 Sep, 23
Harold Hamm 101: Innovative American Entrepreneur
Harold Hamm 101: Who is an Innovative American Entrepreneur? in our article of Zatrun.com, our readers are interested in the oil and gas industry, we will cover in detail everything you need to know about the American entrepreneur Harold Hamm, who has made a name for himself with his expertise in the extraction.
Table of Contents
Who is Harold Hamm?
Harold Glenn Hamm was born in Lexington, Oklahoma to cotton partners Jane Elizabeth (née Sparks) and Leland Albert Hamm at the age of 13. and he was born as the youngest child. Harold Glenn Hamm is a well-known American businessman who has made a name for himself in the oil and gas industry, especially with his expertise in the extraction of shale oil resources. According to the latest estimates in February 2022, his net worth is estimated to be an impressive US$49.3 billion.
This makes him the 63rd richest person in the world. he ranks as a person. Hamm is the founder and chairman of Continental Resources, a company that has achieved significant success in the energy sector. in 2012, Hamm was appointed as an energy adviser to presidential candidate Mitt Romney, and also made donations and recommendations to help Romney’s election campaign.
Education and Political Participation:
Harold Hamm’s commitment to education is evident from his various participations and contributions in this field. He received honorary degrees from Northwestern Oklahoma State University and the University of Oklahoma, and because of his experience with type 2 diabetes, the Harold Hamm Diabetes Center at the University of Oklahoma was named after him. The center was established with a $10 million donation from the Harold and Sue Ann Hamm Foundation. A member of the Global Leadership Council at the Concordia College Offutt School of Business in Moorhead, Hamm’s commitment to education goes beyond health care.
In February 2022, the Harold Hamm Foundation and Continental Resources announced a $12 million donation to the University of Mary in Bismarck, North Dakota. This contribution aims to establish the Hamm School of Engineering and to donate a “Continental Resources|Monsignor James Shea Chair of Engineering” at the private Catholic university. The donation is believed to be the largest philanthropic gift given to education in the western North Dakota and eastern Montana region, where the Bakken formation is located.
Hamm became involved in politics as a donor and consultant to Republican candidates. in 2012, he donated nearly $1 million to the pro-Romney super PAC, Restore Our Future, and was appointed as an energy adviser to Mitt Romney’s presidential campaign. Hamm is generally considered part of the Koch brothers’ conservative donor network. He has also been a vocal critic of the Obama administration’s energy policies and of the Iran nuclear deal.
At the 2016 Republican National Convention, Hamm opposed regulations on oil companies and claimed that the Iran nuclear deal would lead to increased oil exports and the development of atomic weapons. During the 2016 U.S. presidential election, Hamm was considered for the role of secretary of energy in the Donald Trump administration.
Harold Hamm’s career in the oil and gas industry began in 1967 when he founded the Shelly Dean Oil Company. Over time, this company grew into Continental Resources, a leading player in the development of the Bakken oil field located in North Dakota and Montana. Continental Resources used innovative techniques such as horizontally drilled wells and hydraulic fracturing to extract oil resources from the Bakken formation.
As Continental Resources became a major oil producer, Hamm’s personal wealth skyrocketed, eventually earning him billionaire status. Continental Resources is known for its use of shale oil, making it the fourth largest publicly traded company in Oklahoma. Hamm’s entrepreneurial spirit and innovative approach to oil production have made him an important figure in the energy industry.
in 2007, Hamm was named “Entrepreneur of the Year” by Ernst & Young and in 2009 he was named “Energy Advocate of the Year” by the International Energy Policy Conference. he was inducted into the Oklahoma Hall of Fame in 2011 and was listed among the “100 Most Influential People in the World” by Time magazine in 2012. He was also named “CEO of the Year” at the 2013 Platts Global Energy Awards, and Continental Resources was named “Energy Company of the Year” the same year.
Forbes featured Hamm on its cover in May 2014 and published a story titled “Harold Hamm: The Billionaire Oilman Fueling America’s Recovery”. in 2015, he was named “Wildcat of the Year” by the Western Energy Alliance. Hamm received the Horatio Alger Award in 2016 as well as the Manager of the Year award from Oil and Gas Investor magazine. Also in the same year, he received the Lifetime Achievement Award from Platts Global Energy.