Tom Cruise's Daughter Suri Becomes a Millionaire as Trust Fund 'Kicks In'

According to reports, the trust fund was created for Suri when her parents divorced, and the amount set aside was “substantial.”

Since Suri Cruise turned 18 in April, she is now “authorized to access” part of the fund and will have full access when she turns 30.

According to reports, Suri is now much richer than she once was after recently being given access to a trust fund set aside for her.

The trust fund was “provided” by her estranged father as “part of the divorce settlement” he reached with Suri's mother, Holmes, when they separated in 2012.

Although it is not clear how much is in the trust fund, the total amount is believed to be quite “substantial”, which is not surprising, since Cruise is worth more than $600 million, according to Celebrity Net Worth.

“She was allowed in when she turned 18 in April,” a source said Daily Mail about the new wealth of the teenager.

They added: “The rest of the money will become available to her once she enters her 30s. The trust fund has been carefully constructed so she doesn't have all the money at once and become overwhelmed.”

In addition to Cruise's money, Suri will have access to more wealth, as her mother has created a separate trust fund.

“Katie is fiscally minded and looking out for her daughter, of course,” another insider said of the actress, who is said to be worth $25 million according to Celebrity Net Worth.

The source explained why Holmes chose to open a separate trust fund for Suri despite the teenager already having one in her name.

“He wants her to be well provided for and have a great quality of life,” the insider shared about the decision.

Like Cruise's trust fund, it's unclear how much Holmes' package is worth for Suri, and there are no details on whether the teenager can access it at this point.

Currently, Suri is a student at Carnegie Mellon University, the prestigious private research university he joined after graduating from high school earlier this year.

The teenager's school fees are about $65,000 for his course, a fee that Cruise pays.

According to reports, Cruise does not mind paying this fee because it is also part of his divorce with Holmes.

“Tom is really paying for Suri's school, he's always paid for her school and he's never going to stop because he's a stand-up guy,” a source close to the actor confirmed. Daily Mail. “He never hesitated to pay his daughter's child support and expenses. He does not go back on his word. He is fulfilling his obligation.”

At the time of Cruise and Holmes' separation, Cruise agreed to pay $400,000 a year in child support, which he can no longer pay now that Suri has turned 18.

The settlement also required the plaintiff to pay for other expenses, such as Suri's health care, insurance and dental care.

Earlier this year, Suri made headlines when she chose to adopt her mother's name, Noelle, while dropping her father's name.

The decision, which came as a shock to many, was taken by Suri as a tribute to her mother, who has been her primary caregiver for most of her life.

“He's showing praise for his mother by using her middle name,” an insider said Page sixadding that Suri “wants his own identity” to live, one that is not connected to his absent father.

The teenager who recently split with her boyfriend, Tooby Cohen, has already started using the name publicly.

She was first spotted as one of the names on the casting sheet of her high school play, “The Addams Family: A New Musical,” where she played Morticia Addams.

At the teenager's recent graduation ceremony from LaGuardia High School, the ceremony pamphlet also had the new name written on it.

A year before Suri's birth in 2006, Cruise proclaimed his love for Holmes by jumping up and down on Oprah Winfrey's couch while on her talk show, “The Oprah Winfrey Show” in 2005.

Months later, the couple got married in a lavish ceremony, gracing the pages of Good afternoon! magazine as Hollywood's newest power couple.

However, the glamor of their marriage soon faded, culminating in Homes filing for divorce just five and a half years later, a decision that allegedly took Cruise by surprise.

Suri, then only six years old, finds herself staged amid speculation surrounding the separation of her parents and Tom's affiliation with Scientology.

After the divorce of Cruise and Holmes, the actress was granted sole custody of her daughter, which protects her from Scientology controversies, while Cruise retained visitation rights.

However, despite his visitation rights, Cruise's sightings with Suri have dwindled over the years, with reports of extended absences exceeding 100 days throughout the year.

During a legal deposition against tabloid magazines in November 2013, Cruise admitted that Holmes filed for divorce “to protect Suri from Scientology.”