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Report: Will Smith and Jada Pinkett Smith Are Getting Divorced

Kaitlan Collins White House Correspondent

Will Smith and Jada Pinkett Smith are getting divorced after 17 years together, a new report alleges.

The two actors will announce their separation at the end of the summer and have already divided their $240 million assets between themselves, Radar Online reports.

“For Will and Jada, holding it together these past few years has been tough because their marriage has been on life support for a long time,” an insider said. “They tried to fix things with therapy, [but] it’s not happening.”

Will Smith divorces Jada Pinkett Smith

(Photo: Kevin Winter/Getty Images)

“They’re exhausted from trying to maintain the facade of a happy union. They’ve decided to pull the plug in a carefully choreographed manner, [and] agree announcing their split at the end of the summer is the right move.” (RELATED: Jaden Smith Finally Reveals Why He Wore A Batman Suit To Kim Kardashian’s Wedding)

Jada surprised many earlier this summer when she hinted that she and Smith had an “open marriage” during her interview with Howard Stern.

“You gotta trust who you’re with, and at the end of the day, I’m not here to be anybody’s watcher,” she told the radio host. “I’m not his watcher. He’s a grown man.”

“As long as Will can look at himself in the mirror and be okay, I’m good.” (RELATED: Will Smith’s 16-Year-Old Son Steps Out Wearing A Skirt)

Update: In a Facebook post on Monday, Smith clarified that two are not getting divorced and that if he ever decided to divorce “his queen,” he would tell people himself.