Katie Holmes To Receive $400k Annually In Child Support From Tom Cruise
As celebrity divorce payouts go Katie Holmes' settlement with Tom Cruise is very modest.
The couple officially divorced this week less than two months after the 33-year-old actress blindsided the Hollywood star with her filing to end their five-year marriage.
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And although Tom is worth a reported $250 million, Katie is set to receive just $400,000 a year in child support for their six-year-old daughter Suri which works out to be around $33,000 a month.
Had the divorce gone to trial, Katie could have received a lot more but the former Dawson's Creek star had also signed a very strict pre-nuptial agreement which she didn't contest wanting instead to exit the marriage as quickly as possible.
Tom will pay all of Suri's expenses including tuition at her new Catholic school in New York with both parties agreeing that Suri will never attend a "residential school" and he will also pay for the little girl's extra-curricular costs, medical, dental, insurance and college fees.
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It's reported that Katie did not receive a lump sum payout and is not going to receive spousal support either.
Over the next 12 years until Suri turns 18 Tom will be paying out a total of $4.8 million which will be paid by electronic transfer.
In contrast, Tiger Woods reportedly paid ex-wife Elin Nordegren $100 million, Michael Jordan's split from Juanita Jordan was estimated to have cost him $260 million and James Cameron's divorce from Linda Hamilton was in excess of $50 million.