Entertainment mogul Simon Cowell has reportedly set his sights on becoming "the British version of Walt Disney".

The 60-year-old has enjoyed a lucrative two decades in the industry, building up a personal wealth of almost £400 million from his music acts, The X Factor and the Got Talent franchise.

Cowell's latest project is a joint-venture with his six-year-old son Eric to create a series of children's books called 'Wishful Creatures'.

According to Cowell, the 'Wishfits' are "magical and unusual creatures which have evolved in a weird and wonderful way, combining two different species from hybrid animals with very distinct characteristics".

The Sunday People claims that Cowell has already envisaged a range of spinoff products based on the books, including "films, computer games, puzzles, cuddly toys and clothing".

Cowell has a gap in his schedule to work on the project later this year after the decision to "rest" The X Factor in 2020.