Step aside Dakota Fanning and Miley Cyrus – Taylor Lautner has now eclipsed all his teen competition with a huge payday, reportedly making him the highest-paid teen actor in Hollywood.

According to Nikki Finke’s DeadlineHollywood.com, “The Twilight Saga” star is pulling in an impressive $7.5 million for his next movie, “Northern Lights,” where he’ll reportedly star alongside Tom Cruise.

The movie will reportedly tell the tale of “a gifted, young, aerobatics pilot who faces off with his controlling, billionaire father and falls in love with a gifted, female pilot.”

According to Finke, Taylor’s fellow teens actors have never come close to a payday as big as the actor’s.

In addition to the Cruise movie and the upcoming third and fourth installments of “The Twilight Saga” (as well as a rumored possible fifth film) – Taylor has also signed on to be Paramount’s next big action hero in “Max Steel,” based on the successful international Mattel property.

But first up, Taylor fans will get something sweet from the actor with the romantic comedy, “Valentine’s Day,” which hits theaters on February 12.

source: accesshollywood.com