Katie Holmes has forcefully denied recent claims made by the Daily Mail that her daughter, Suri Cruise, has gained access to a substantial trust fund from her father, Tom Cruise.
The Dawson's Creek actress took to Instagram to call out the report as "completely false," adding, "Daily Mail, you can stop making stuff up."
Holmes followed up with the caption "Enough," emphasising her frustration.
The Daily Mail alleged that Suri's trust fund, reportedly established as part of the 2012 divorce settlement between Holmes and Cruise, became accessible when Suri turned 18 on April 18, 2024.
According to their report, the fund was carefully structured to prevent her from becoming overwhelmed, with staggered access beginning now and continuing into her 30s.
Tom Cruise's Support for Suri
Despite the contentious claims, Tom Cruise has a long history of financially supporting his daughter.
The Hollywood star, with a net worth exceeding £470 million ($600 million), reportedly paid £313,000 ($400,000) annually in child support, in addition to covering education, healthcare, and other expenses.
Cruise also paid for Suri's tuition at Carnegie Mellon University in Pittsburgh, Pennsylvania, which reportedly amounts to £50,750 ($65,000) per year.
Suri, now a freshman at the prestigious institution, is believed to be studying dance and theatre—passions her mother, Holmes, has publicly spoken about.
An insider described Tom as "a stand-up guy," asserting that he has never faltered on his obligations.
"He has always paid for her schooling and other expenses and continues to fulfil his promises."
Katie Holmes Refutes Trust Fund Reports
Holmes has been adamant in her denial of the trust fund claims, expressing concerns about the potential risks such rumours pose.
She noted in the comments section of her Instagram post, "In today's world, I don't want a target on my child's back. It's dangerous."
Holmes, who has a reported net worth of £19.6 million ($25 million), is said to have established her own trust fund for Suri to ensure her daughter's financial security.
A source revealed that Holmes is "fiscally minded" and keen to provide Suri with a high quality of life.
Suri's College Life and Future
Suri Cruise, now 18, has already begun carving her own path. She contributed vocals to two of Holmes' films, Rare Objects and Alone Together, showcasing her budding interest in the arts.
An insider described Suri as "a very intelligent and mature young woman with a loyal group of friends."
Holmes has spoken fondly of her daughter's transition to college life, telling Town & Country earlier this year, "Of course, I will miss the close proximity, but I'm really proud of her and I'm happy."
The actress was seen helping Suri settle into her dorm room during the autumn.
The Role of Trust Funds in Wealth Management
While the report has sparked controversy, it also shines a light on the broader use of trust funds among wealthy families.
Trust funds are often designed to provide financial security while maintaining strict control over how and when the assets are distributed.
By staggering access, families can prevent heirs from becoming overwhelmed or mismanaging their inheritance.
Trust funds can also protect assets from legal claims and creditors, though they require careful structuring.
Holmes and Cruise's alleged use of such a fund reflects the complexities of wealth management in high-profile families.
