Tom Cruise will be paying millions in child support, but Katie Holmes will receive nothing after their divorce is finalized due to a clause in their prenup, a report says.
Previous reports that Holmes scored $50 million in the divorce settlement are “ridiculous,” sources tells.
Katie signed a prenuptial agreement with Cruise that stated she would receive nothing if she was the one who pulled the plug on their marriage. “She has her own money,” an insider told the website.
However, Cruise will pay “more than $10 million” in child support for their daughter Suri, 6, over the next 12 years, their sources say.
Cruise and his soon-to-be ex-wife reached a settlement Monday.
“The case has been settled and the agreement has been signed. We are thrilled for Katie and her family and are excited to watch as she embarks on the next chapter of her life,” her attorney Jonathan Wolfe said in a statement to FOX411.
The resolution was notably quick, particularly in Hollywood terms. By way of comparison, Kim Kardashian and Kris Humphries are still negotiating a divorce for an August 2011 marriage that lasted less than three months.
“A quick settlement indicates that they were able to agree that they’ll both do some co-parenting,” said Steve Mindel, a managing partner in the Los Angeles firm Feinberg, Mindel, Brandt and Klein who has handled bi-coastal divorce cases.
Mindel said the next step would be for Holmes or Cruise to file to have their status changed to divorced, but that the actual financial and child custody details won’t get filed in court unless there’s some later dispute.
The rapid settlement saves the couple from a public battle that was sure to be covered vigorously by the celebrity news media, which had already shifted into hyper-drive.
Cruise has two children with his previous wife, Nicole Kidman. The actor was also previously married to Mimi Rogers. This was Holmes’ first marriage.
