Katie Holmes to receive $400G annually in divorce settlement from Tom Cruise, reports say
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Katie Holmes and Tom Cruise’s divorce has been finalized and Holmes is going to receive relatively modest support in comparison to her ex-husband’s vast fortune, TMZ reports.
Sources tell TMZ that Holmes did not receive a lump sum payout, which was consistent with her pre-nuptial agreement with Cruise. Which means she has essentially been shut out of Cruise’s fortune, totaling roughly $250 million.
Holmes will not receive spousal support, but will get money in child support for the former couple’s daughter Suri. According to the settlement, Cruise will pay Holmes $400,000 a year in child support, totaling approximately $33,000 per month. The money, which will reportedly be paid by electronic transfer, is said to be significantly less than a judge may have ordered had they gone to court.
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TMZ reports that Cruise must pay support for Suri for the next 12 years, until she turns 18. In total, it comes to around $4.8 million.
Cruise will also pay Suri’s expenses, including her schooling and extracurricular costs. One stipulation in their settlement is that Suri will not attend a “residential school,” which means she won’t be sent to a Scientology boarding school, TMZ reports.
Holmes reportedly wanted very little from Cruise, except for the divorce, which is why she settled quickly, TMZ reports.
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