Tom Cruise has an estimated fortune of $250 million. So the $400,000 that he’ll pay out in child support to Katie Holmes until Suri’s 18th birthday probably won’t cause him to lose any sleep.

According to TMZ, Holmes isn’t getting any spousal support from Cruise but she will be receiving a $400,000 in child support every year from the Mission Impossible actor. That comes to about $33,000 a month, or a little over a grand a day.

In total, Cruise will pay about $4.8 million in child support over the next 12 years.

A friend of Cruise said:

“Tom is very happy and relieved that he is moving forward… His priority is being a good father and this settlement will make sure that continues.”

In addition to the monthly child support bills, Tom will also be responsible for other expenses related to Suri’s life. Cruise will be footing the bill for insurance, medical, and education bills.

The other big agreement from the settlement has to do with Suri and the Church of Scientology. According to TMZ, Suri will not be attending a “residential school.” In other words, she won’t be shipped off to a Church of Scientology boarding school.

Katie Holmes filed for divorce from Tom Cruise at the end of June. Holmes could have taken Cruise to court in order to get spousal support and a bigger child support settlement, but both parties wanted to settle things as quickly as possible.

Do you think Kate Holmes get a fair deal? Did you expect her to get more than $400,000 a year.

Katie Holmes To Receive $400,000 Annual Child Support From Tom Cruise is a post from: The Inquisitr