Suri Cruise suddenly becomes a rich teenager who can do whatever she wants if she has the means.
Katie Holmes’ 18-year-old daughter has made a huge amount of money, DailyMail.com has learned.
This is because his father Tom Cruise’s trust fund “activated” when he turned 18 on April 18.
“It is part of the divorce settlement that a trust fund provided by Tom Cruise will be shared with his daughter Suri Cruise when she turns 18, and it is substantial,” a source told DailyMail.com.
‘He was allowed access when he turned 18 in April. The rest of the money will be available to her once she turns 30. The trust fund was carefully constructed so that she doesn’t receive all the money at once and feel overwhelmed.’
DailyMail.com has also learned that Katie has set up her own trust fund for her only daughter: “Katie is tax-minded and of course taking care of her daughter,” another source added. “He wants her to be well cared for and have a great quality of life.”
Suri Cruise suddenly becomes a rich teenager. Katie Holmes’ 18-year-old daughter has made a huge amount of money, DailyMail.com has learned. This is because his father Tom Cruise’s trust fund ‘activated’ when he turned 18 on April 18.
Tom Cruise and Katie Holmes arrive at the War of the Worlds Fan Screening in Los Angeles in 2005 in Hollywood
Suri is a lucky girl as her father can easily trust her; According to Celebrity New Worth, he is worth more than $600 million. Katie is reportedly worth $25 million according to the same site.
In fact, divorce documents from 2012 describe that the Top Gun actor would provide his second daughter with a trust fund once she was an adult.
He also has a daughter Isabella and a son Connor, with his ex-wife Nicole Kidman.
At the time of Tom and Katie’s separation in 2012, Cruise was said to have created a trust fund for Suri that she could access in part when she turned 18 and in full when she turned thirty.
He also agreed to pay Holmes $400,000 a year in child support, or about $33,000 a month, until Suri turned 18. Those payments are believed to have already ceased.
And the Mission: Impossible star agreed to pay all of Suri’s medical, dental, insurance, education, college and extracurricular costs.
As DailyMail.com reported earlier this year, Tom has paid for Suri’s annual college expenses of $65,000 at Carnegie Mellon University.
A source previously told DailyMail.com: ‘Tom is actually paying for Suri’s tuition; He has always paid for his studies and would never stop doing so because he is a serious guy.
This comes after her 18th wedding anniversary with ex-husband Cruise fell on November 18.
“It is part of the divorce settlement that a trust fund provided by Tom Cruise is shared with his daughter Suri Cruise, and it is substantial,” a source told DailyMail.com. ‘He was allowed access when he turned 18 in April. The rest of the money will be available to her once she turns 30. The trust fund was carefully constructed so that she doesn’t receive all the money at once and feel overwhelmed.’ Seen in 2012
Suri is a freshman at Carnegie Mellon University, a private university in Pittsburgh, Pennsylvania. Your Christmas holidays begin on December 21
‘He has never hesitated to pay his daughter’s support and expenses. He doesn’t break his word. He is fulfilling his obligation.’
Suri is a freshman at Carnegie Mellon and has likely been studying dance and theater, as her movie star mother Katie previously said those were her interests.
And Katie has already put Suri to work on two of her films, giving her a head start entering showbiz.
Suri contributed vocals to songs for two of Holmes’ films: the 2023 drama Rare Objects and the 2022 romantic drama Alone Together.
“I’m proud of my daughter,” Holmes told Town & Country about her daughter. “Of course I will miss the proximity, but I am very proud of her and I am happy.”
Katie was seen settling Suri into her school earlier this fall when she moved into a dorm.
DailyMail.com has also learned that Katie has set up her own trust fund for her only daughter: “Katie is tax-minded and of course taking care of her daughter,” another source added. “He wants her to be well cared for and have a great quality of life.” Seen in 2021
Holmes and Suri Cruise at the American Ballet Theater Spring Gala in New York City in 2018
Holmes is seen on December 1 in New York City.
A source recently spoke to the Mail about Suri’s early days at university: “She’s a smart girl and is developing into a very intelligent mature young woman,” a source said.
“He has a very close group of loyal friends and knows exactly where he’s coming from.”
Suri has since been seen in her hometown of New York, where she attended her mother’s Broadway play Our Town with Jim Parsons and Zoey Deutch.
Suri, who split from her boyfriend, according to a DailyMail.com exclusive, is expected to travel back to her home in New York City for her Christmas vacation, which runs from December 21 to January 13.
That gives Suri almost a month off from school.