Katie Holmes to keep gifts by Tom Cruise
Katie Holmes is getting to keep millions of dollars worth jewellery and gifts given to her by Tom Cruise, it has been revealed.entertainment Updated: Aug 28, 2012 14:02 IST
Katie Holmes is getting to keep millions of dollars worth jewellery and gifts given to her by Tom Cruise, it has been revealed.
According to Radar Online, following reports of a stingy payout from Cruise, “Tom was extremely generous to Katie with lavish gifts during their marriage and she will be keeping millions of dollars of jewelry, Hermes handbags and other luxurious items.”
“Tom gave Katie diamond earrings as a birthday gift one year that easily cost over $500,000 and he had custom design pieces made for her,” the New York Post quoted a source as telling the website.
“Under terms of the divorce, Katie is keeping all of the jewelry, handbags, accessories, and designer clothing,” the source said.
The source added that for the time being, the jewels are being kept in a safe place and will likely be given to their daughter Suri once she is old enough.
The Dawson’s Creek star was reportedly uninterested in Cruise’s millions, wanting to settle her divorce quickly.
“Suri has always been Katie's number one priority and concern. During the divorce settlement talks Katie just wanted to make sure that she and her daughter would be taken care of from a financial standpoint,” the source said.
Cruise is said to be paying Holmes $400,000 a year in child support for the next 12 years, or until Suri turns 18.
The total payout works out to $4.8 million, which is less than what Cruise makes in a single film.