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The man with the million-dollar grin Tom Cruise, looks set to receive quite a bit more than that and become the title of world's richest movie star.

The claim follows news reports suggesting the vertically challenged thinking man's action hero is to land around $350 million for his next cinematic outing.

The star of a dozens of blockbusters, from Top Gun to Minority Report, via Days Of Thunder, Mission Impossible and everything in between, has confirmed he is to star in the upcoming silver screen adaptation of HG Wells' epic novel The War Of The Worlds.

The astute star, infamous for his business acumen even in the earliest stages of his career, reportedly turned down a set fee what is no doubt set to be a money-spinning turn in the big budget rendition.

The Cruiser favoured instead a potentially bank busting ten per cent cut of the film's box office takings and a share of profits from merchandise.

And with estimates from Tinseltown giants Paramount, who are funding what is eventually to become a trilogy as is the trend among the blockbusting fraternity these days, estimating that the first film's takings will hit $3.5 billion from tickets and DVD sales alone, Cruise can already expect to pocket somewhere in the region of $175 million.

And as if this paltry sum was not enough for a few months working under the legendary direction of one Mr Stephen Spielberg who has been brought in to do justice to the much-revered source material, Cruise is also tipped to scoop a further $87.5 million for each of the sequels.

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