Reports that Katie Holmes bagged $50 million in her divorce settlement from Tom Cruise were rendered as "ridiculous" by what TMZ called a well-connected source. Cruise will however be paying a hefty sum in child support during the next 12 years for the couple's daughter, Suri.
Cruise will making regular payments for 12 years, the website said, adding that he will end up paying more than $10 million for child support for 6-year-old daughter Suri, by the time she turns 18.
Holmes filed for divorce from Cruise on June 28. The couple reached a divorce settlement earlier this week, although no details were publicly disclosed.
A reportedly ironclad prenuptial agreement shut Holmes out of a nest egg because she called the marriage quits. No worries there, another source says because Holmes "has her own money."
The deal avoids a long court battle that could have become a public relations nightmare not only for the 50-year-old "Top Gun" veteran, who has several big-budget movies upcoming, but also for Scientology.
Cruise and Holmes have reached a divorce settlement - details have not been released - and Holmes will have primary custody of Suri, but Cruise will have a "meaningful relationship" with his child.
