Suri Cruise, the daughter of Tom Cruise and Katie Holmes, has reportedly hit the millionaire mark after gaining access to a trust fund set up by her estranged father. With her 18th birthday earlier this year, Suri took her first step towards independence. The trust fund, part of her parents’ divorce settlement, ensures she receives an initial amount now, with the remainder available in her 30s.

Tom Cruise’s trust fund for Suri comes into play

Suri Cruise may already have a “significant” net worth, which is hardly surprising considering her parents’ wealth. According to Celebrity Net Worth, Tom Cruise is reportedly worth over $600 million, while her mother, Katie Holmes, is worth an impressive $25 million. In addition, Tom is expected to pay Suri’s tuition fees of $65,000 per year.

The 18-year-old recently began her college journey at Carnegie Mellon University in Pittsburgh.

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Cruise reportedly paid Katie Holmes $400,000 annually as part of her divorce settlement. This included monthly payments of $33,000 for Suri until she turned 18. In April, when Holmes’ lookalike daughter enrolled in college, those payments stopped, but her lifestyle remains unchanged thanks to the activation of her sizable trust fund. Meanwhile, Holmes has also ensured her daughter’s financial security by setting up a separate fund for her future.

“It’s part of the divorce agreement that a trust fund provided by Tom Cruise will be shared with daughter Suri Cruise when she turns 18, and it’s significant,” a source informed Daily Mail.

“She was allowed to access it when she turned 18 in April. The rest of the money will be available to her once she turns 30. The trust fund was carefully set up so she doesn’t get all the money at once and be overwhelmed,” the insider revealed.

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Cruise has rarely been seen with Suri since his fairytale wedding to Holmes fell through, reportedly due to his involvement with Scientology, which drove a wedge between the two. Back in August, Suri decided to ditch her father’s last name and opt for her mother’s middle name, Noelle.

Even though no bond was seen between Cruise and Suri following the Top Gun star’s split from his ex-wife Katie Holmes, the actor continued to support her financially.

“He never hesitated to pay his daughter’s maintenance and expenses. He doesn’t break his word. “He’s honoring his commitment,” a friend of Cruise’s told the Mail in August.

Tom Cruise’s children

Hollywood heartthrob and action movie icon Tom Cruise has three children from his previous marriages to actresses Nicole Kidman and Katie Holmes. All three reportedly live their lives outside the public eye. Cruise first became a father to Bella, whom he and Kidman adopted after they struggled with fertility issues following their marriage in 1990.

Bella is now an artist and graphic designer. The couple later adopted a second child, Connor, who is said to be particularly close to Cruise. After Tom and Nicole divorced in 2001, Cruise had his youngest and only biological child, Suri, with his ex-wife Katie Holmes. The couple welcomed their daughter in June 2006.