Suri Cruise is suddenly a rich teenager who can do as she wants as she has the means, Daily Mail reports.
The 18-year-old daughter of Katie Holmes has come into a great deal of money, DailyMail has learned.
That is because her trust fund from her estranged father Tom Cruise ‘kicked in’ when she turned 18-years-old on April 18.
‘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 told DailyMail.
‘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.’
DailyMail has also learned that Katie has set up her own trust fund for her only child: ‘Katie is fiscally minded and is looking out for her daughter, of course,’ another source added. ‘She wants her to be well provided for and have a great quality of life.’
Suri is a lucky girl as her father can easily pay her trust; he is reportedly worth over $600M according to Celebrity New Worth. Katie is reportedly worth $25M according to the same site.
Indeed, divorce documents from 2012 do outline that the Top Gun actor would provide his second daughter with a trust fund once she became an adult.
He also has daughter Isabella, along with son Connor, with his ex-wife Nicole Kidman.
It was stated at the time of the Tom and Katie split in 2012 that Cruise had set up trust fund for Suri that she could access in part when she turned 18, and in full when she reached her thirties.
He also agreed to pay Holmes $400,000 per year in child support, or about $33,000 per month, until Suri turned 18. It is believed those payments have now stopped.
And the Mission: Impossible star agreed to pay for all of Suri’s health care, dental, insurance, education, college, and extracurricular costs.
As DailyMail reported earlier this year, Tom has paid for Suri’s $65,000 annual college expenses at Carnegie Mellon University.
A source previously told DailyMail.com: ‘Tom is indeed paying for Suri’s tuition – he has always paid for her schooling and would never stop as he is a stand-up guy.
An insider recently told the Mail about Suri’s early days at college: ‘She is a smart girl, and she is turning into a very intelligent mature young woman,’ said a source.
‘She has a very close group of loyal friends, and she knows exactly where she comes from.’
Since then, Suri has been seen back in her hometown of New York City where she attended her mother’s play on Broadway titled Our Town with Jim Parsons and Zoey Deutch.
Suri – who has split from her boyfriend, according to a DailyMail exclusive, is expected to travel back home to New York City for her Christmas break which is from December 21 until January 13.
That gives Suri almost a month off from school.