Tom Cruise made out cheaply in his quick divorce settlement with his third ex-wife, Katie Holmes, TMZ is reporting. According to court documents related to the divorce, the ‘Jack Reacher’ star didn’t have to pay Holmes a lump sum payout, which is consistent with the prenup that essentially shuts her out of his $350 million fortune.
Homes also won’t be receiving any spousal support from Cruise. The ‘Jack and Jill’ star will receive modest child support for their six-year-old daughter, Suri. But the settlement’s less than what a judge would have ordered, as Cruise will pay Holmes $400,000 a year in child support. The $33,333 a month will be paid by electronic transfer.
Cruise must pay Holmes child support until Suri turns 18, which will equal $4.8 million in all. He must also pay Suri’s expenses, including medical, dental, insurance, education, college and extracurricular costs. The settlement also states that Suri can’t attend boarding school through her high school years.
Holmes could have received more child support under New York law if the case went to trail. But she and Cruise decided to settle quickly. Holmes reportedly didn’t want anything from Cruise in the divorce settlement, which is why she didn’t receive spousal support or more child support.
Written by: Karen Benardello