Olly Murs is a millionaire

However, the records from his company, Stanley Entertainment, only include his earnings until December 2011 which means most of the profits from his recent tour and double platinum-selling album 'In Case You Didn't Know', aren't included.

A source told The Sun newspaper: "Olly is a real grafter - has worked his socks off since he took part in 'The X Factor'.

"He is constantly juggling working on the 'Xtra Factor', touring and recording new music, so every penny is hard earned."

The former call centre worker - who used to earn just £6 an hour before finding fame - has previously admitted he is careful with his cash.

He said earlier this year: "Am I a millionaire yet? That will hopefully come this year. The difference with me is that I am very conscious of my money and I look after it."

Olly could be set to boost his income even further, as earlier this week, the 28-year-old singer announced the release of his debut album in the US.

He will release 'Right Place Right Time' in America on December 4 through Columbia Records,and the record will differ from his third UK release of the same name.

Speaking about the album - which will include his first US single 'Heart Skips A Beat' - he said: "I am so excited that I am getting the chance to release my music in the US.

"''Heart Skips A Beat' has been a big hit for me around the world, but I never thought I'd be able to bring it to the US!"

He will promote the track on 'Good Morning America' on September 28.