Miley Cyrus to be a billionaire

In this image released by Disney, Miley Cyrus from the Disney Channel's 'Hannah Montana' rides the Jungle Cruise attraction with park guests Victoria Jack, left, and Georgia Dezern at Walt Disney World Resort in Lake Buena Vista, Fla., on Thursday, May 1, 2008. [Agencies]

Teen star Miley Cyrus will be a billionaire by the end of the year, reports say.

The 15-year-old is officially the wealthiest child in the world following her success in Disney Channel series Hannah Montana.

According to People, the franchise will be worth £500 million by 2009, while Cyrus earned £9 million last year alone.

A Disney spokesperson said: "Kids are earning more and more and can command huge fees in Hollywood. But no one could have predicted how popular Miley would be. She's a true star."