A report came out this week that Suri Cruise, just eight years old, has a net worth of $0.5 million. Born Apr 2006 in Santa Monica, this only daughter of Tom Cruise and Katie Holmes has never held an official job.
Although Suri Cruise is now one of the most photographed children in America, her celebrity parents kept photos of her out of the news until she was six months old. Her “photo debut” was on the cover of Vanity Fair’s October 2006 cover, which reputedly sold over 700 thousand copies. Suri’s name, considered unusual by many when the couple announced it, is French for “red rose” and also means “princess” in Hebrew.
Suri is a constant companion to her mother now that Cruise and Holmes are divorced, and is earning a reputation as as “the most fashionable child in America.” E! Online used words like “little fashionista” and “modern day princess” in their photo spotlight on the youngest Cruise. Despite being so well photographed, Radar Online reported last year that Suri’s mother had turned down every advertising and endorsement offer that came Suri’s way, so “her daughter could have a normal childhood.” Holmes says that, despite the career choices of both parents, she would like Suri to pursue whatever career makes her happy, whether it is modeling or the law, which is Holmes’ father’s profession.
Voted one of the “Top 10 most stylish children in Hollywood” in a recent survey by Start-Rite Shoes, Suri was joined in the top five section of this list by three of David and Victoria Beckham’s children, and Willow Smith, child to Will and Jada Pinkett Smith. The other five on the list were Cruz Beckham, Beyonce’s daughter (Blue Ivy), Maddox and Shiloh Jolie-Pitt and Myleene Klass’ daughter, Ava.
So how did Suri Cruise accumulate a net worth of $0.5 million dollars at only eight years of age? In her parent’s divorce settlement, finalized almost two years ago, Cruise was ordered by the judge to pay $400 thousand dollars in child support a year for Suri. By the time Suri is 18 years old, her child support payments will total almost $5 million dollars. This is actually considered low by Hollywood standards – it is reputed that Charlie Sheen pays $200 thousand dollars a year more per child.
Because of the prenuptial agreement between Holmes and Cruise, Suri was the only person in the family awarded financial support after the divorce proceedings. At the end of the legal wrangling, Holmes had asked only for custody of her daughter, and that was all she walked away with from her five year marriage to Cruise.
It should be noted, Holmes earns plenty of income with endorsement ads – most notably for Bobbi Brown cosmetics – and various film, theater and TV projects. Though it does not come anywhere near Tom Cruise’s net worth, Katie Holmes is worth $25 million on her own. In addition to the $400 thousand allowance each year, Cruise also pays Suri’s expenses: education, insurance and what the judge labeled “extracurricular costs.” With a very moderate percentage of savings, Suri Cruise’s net worth will be far more than $0.5 million very soon.
By Jenny Hansen