Early Life
Harold Glenn Hamm was born on December 11, 1945, in Lexington, Oklahoma. He was the youngest of 13 children born to cotton sharecroppers. Hamm's upbringing instilled in him a strong work ethic and a determination to succeed. From a young age, Hamm worked to support his family, including working at a gas station and cleaning oil tanks.
Rise to Success
Hamm's entrepreneurial journey began in 1967 when he founded Shelly Dean Oil Company, later renamed Continental Resources. He pioneered the development of the Bakken oil field using horizontal drilling and hydraulic fracturing. Continental Resources became a publicly traded company in 2007 but was taken private again in 2022 by affiliates of Harold Hamm. Hamm's vision and innovative techniques transformed the U.S. oil industry.
Key Business Strategies
Key to Hamm's success was his early adoption of advanced drilling techniques. His company's focus on horizontal drilling and hydraulic fracturing in the Bakken region was a game-changer. Hamm also expanded the company through strategic acquisitions and investments in areas with high potential for oil and gas discovery.
Philanthropy
Hamm has made significant contributions to education. The Harold Hamm Diabetes Center at the University of Oklahoma was named after him following a $10 million donation from the Harold and Sue Ann Hamm Foundation. He also donated $10 million to the University of North Dakota's College of Engineering and Mines to create the Harold Hamm School of Geology and Geological Engineering. Hamm has also been a donor to political campaigns, including those of Mitt Romney and Donald Trump.