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Katie Holmes Holds On To "Millions Of Dollars" In Jewelry And Gifts From Tom Cruise

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Aug. 27 2012, Published 3:26 p.m. ET

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Katie Holmes will get, by celebrity standards, a modest payout from ex-husband Tom Cruise in the form of $400,000 a year in child support, and reportedly walked away with no lump-sum payment and no spousal support.

But what the 33-year-old actress did get to keep is "millions of dollars in jewelry, designer handbags and other gifts" given to her by Tom during their five-year marriage and short courtship.

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"Tom was extremely generous to Katie with lavish gifts during their marriage and she will be keeping millions of dollars of jewelry, Hermès handbags and other luxurious items," an insider told RadarOnline.

"Tom gave Katie diamond earrings as a birthday gift one year that easily cost over $500,000 and he had custom-designed pieces made for her.

"Under terms of the divorce, Katie is keeping all of the jewelry handbags, accessories, and designer clothing.

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"What she does with it is up to her. For the time being, the jewels are being kept in a very safe place and, knowing Katie, it's likely she will one day give them to Suri once she is old enough."

The source added that "Katie was never with Tom for the money."

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"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 No. 1 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."

Katie's divorce from Tom was finalized last week and she will have primary custody of their 6-year-old with the Mission: Impossible star having "meaningful contact" with his daughter. Suri will continue to enjoy the lavish lifestyle financed by her father while living a more modest life with her mom in New York. And the former Dawson's Creek star still enjoys the luxuries she kept from the union.

"Katie's handbag collection includes custom-made Hermès Birkins that would make any fashionista swoon," the source added.

"Katie has an oversize Birkin in a gorgeous shade of red. She also has several iconic Hermès Kelly handbags. Katie probably got at least 10 Hermès handbags as gifts from Tom during the course of the marriage, ranging in price from 10k-50k each!

"If Katie were ever to decide to auction the handbags off, she would get top dollar because she was married to Tom Cruise when she got them. Katie's Hermès handbag collection definitely rivals her pal Victoria Beckham's."

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