Tom Cruise’s daughter Suri is said to be a millionaire when the fund “kicks in”

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

Since Suri Cruise turned 18 in April, she now has “permitted access to” a portion 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 gaining access to a fund kept aside for her.

The 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.

While it’s unclear how much is in the trust fund, the total amount is believed to be quite “significant,” which isn’t surprising, given that Cruise is reportedly worth over $600 million, according to Celebrity Net Worth.

“She got access to it when she turned 18 in April,” a source told the channel Daily Mail about the teenager’s new wealth.

They added, “The rest of the money will become available to her as she enters her 30s. The trust fund was carefully constructed so she doesn’t get all the money at once and get overwhelmed.”

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

“Katie is financially minded and looks out for her daughter, obviously,” another insider said of the actress, who is reportedly worth $25 million, according to Celebrity Net Worth.

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

“She wants her to make a good living and have a good quality of life,” the insider shared of the decision.

Like Cruise’s trust fund, it’s unclear how much Holmes’ package for Suri is worth, and there are no details on whether the teenager will be able to access it at this time.

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

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

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

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

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

The deal also required the actor to pay for other expenses, such as Suri’s medical care, insurance and dental care.

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

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

“She’s paying tribute to her mom by using her middle name,” an insider shared Page sixadding that Suri “wants her own identity” to live by, one not connected to her absent father.

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

It was first seen as one of the names of the cast of her high school play “The Addams Family: A New Musical”, in which she played Morticia Addams.

At the teenager’s recent graduation ceremony from LaGuardia High School, the ceremony brochure also had the new name inscribed.

A year before Suri was born 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 married in a lavish ceremony, which graced the pages of Hello! journal as Hollywood’s newest power couple.

But the glamor of their marriage soon faded, culminating in Homes filing for divorce just five and a half years later, a decision that allegedly caught Cruise off guard.

Suri, then just six years old, came into the limelight amid speculation surrounding her parents’ split and Tom’s affiliation with Scientology.

After Cruise and Holmes divorced, the actress was granted sole custody of their daughter, shielding her from Scientology controversy, while Cruise retained visitation rights.

But despite his visitation rights, Cruise’s sightings of Suri decreased over the years, with reports of prolonged absences of more than 100 days throughout the year.

During a November 2013 legal filing against tabloid newspapers, Cruise reportedly admitted that Holmes filed for divorce “to protect Suri from Scientology.”