Suri Cruise, the daughter of Tom Cruise and Katie Holmes, has reportedly hit the millionaire mark after gaining access to a trust fund set up by her estranged father. Turning 18 earlier this year, Suri made her first step toward independence. The trust fund, part of her parents' divorce settlement, ensures she receives an initial amount now, with the remainder accessible in her 30s.
Tom Cruise’s trust fund for Suri ‘kicks in’
Suri Cruise may already have a ‘substantial’ fortune lined up, and that’s hardly surprising given her parents’ wealth. Tom Cruise is reportedly worth over $600 million, according to Celebrity Net Worth, while her mom, Katie Holmes, has an impressive $25 million to her name. On top of that, Tom is said to be covering Suri’s $65,000-a-year college fees.
The 18-year-old recently started her college journey at Carnegie Mellon University in Pittsburgh.
Cruise reportedly paid Katie Holmes $400,000 annually as part of their divorce settlement, which included $33,000 monthly payments for Suri until she turned 18. In April as Holmes’ lookalike daughter enrolled in college, those payments stopped but her lifestyle remains unchanged, thanks to the activation of her substantial trust fund. Meanwhile, Holmes has also ensured her daughter’s financial security by setting up a separate fund for her future.
{{/usCountry}}Cruise reportedly paid Katie Holmes $400,000 annually as part of their divorce settlement, which included $33,000 monthly payments for Suri until she turned 18. In April as Holmes’ lookalike daughter enrolled in college, those payments stopped but her lifestyle remains unchanged, thanks to the activation of her substantial trust fund. Meanwhile, Holmes has also ensured her daughter’s financial security by setting up a separate fund for her future.
{{/usCountry}}"It is part of the divorce deal that a trust fund provided by Tom Cruise be shared with daughter Suri Cruise when she turns 18, and it is substantial," a source informed Daily Mail.
"She was allowed to access it when she turned 18 in April. The rest of the money will become available to her once she enters her 30s. The trust fund was carefully constructed so that she does not get all the money at once and becomes overwhelmed,” the insider revealed.
Cruise has rarely been seen with Suri since his fairytale wedding with Holmes fell apart, reportedly due to his dedication to Scientology driving a wedge between them. Back in August, Suri decided to drop her father’s last name and opted for her mother’s middle name, Noelle.
While Cruise and Suri have rarely been seen bonding after the Top Gun star’s separation from his ex-wife, Katie Holmes, the actor has continued supporting her financially.
“He has never hesitated to pay his daughter's child support and expenses. He does not go back on his word. He is fulfilling his obligation,” the friend of Cruise," a friend of Cruise told Mail in August.
Tom Cruise’s kids
Hollywood heartthrob and action movie icon Tom Cruise has three children from his previous marriages to actresses Nicole Kidman and Katie Holmes. All three reportedly live their lives out of the public eye. Cruise first became a father to Bella, whom he and Kidman adopted after struggling with fertility issues following their marriage in 1990.
Bella is now an artist and graphic designer. The couple later adopted a second child, Connor, who is said to be particularly close to Cruise. After Tom and Nicole’s divorce in 2001, Cruise had his youngest and only biological child, Suri, with ex-wife Katie Holmes. The couple welcomed their daughter in June 2006.