Tom Cruise Katie Holmes Divorce Settlement Revealed By Jay Tamboli from Washington, DC, US (Tom Cruise & Katie Holmes) [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons
Cruise and Holmes Agree to Terms
It appears that Katie Holmes wanted nothing more out of her five-year marriage to Tom Cruise other than custody of their daughter Suri Cruise and perhaps child support. Well, that is exactly what she got.
A judge ordered Cruise to pay Holmes $400,000 annually in increments of $33,333 / monthly via an electronic bank transfer through Suri’s 18th birthday. All tolled, that comes to $4.8 million.
This is reported to help pay for Suri’s education, including college as well as clothing, nannies, transportation, security, etc…Although Tom is reportedly worth an estimated $125 million, Katie is reported to be worth an estimated $25 million, so she isn’t broke either.
Radar reports that Holmes will also be keeping millions of dollars worth of gifts Cruise gave her during their marriage.
“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,” a source tells Radar.
“Katie was never with Tom for the money. When it came time for the divorce, she just wanted it to be done quickly and with as little disruption to Suri’s life as possible. 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 added.
Aside from a monetary settlement, both Tom and Katie agree that Suri will NOT attend a “residential school” from now through her high school years. Translation — she can’t be shipped off to boarding school — Scientology or otherwise.
Holmes will be starring in the Broadway musical “One Day We Were Young” as well as filming “Responsible Adults” later this year.
Holmes filed for divorce on June 28.
