He is very good for his age but, shock horror, I actually agree with a Blabbermouth post for once: "Ok the small child shredding angle is good for him NOW, but in 7 years or so he'll just be another shredder among the rest. Learn to write a tune little boy then you might go somewhere." Having said that I wouldn't mind earning that much. Also, if the original article came from the Daily Mail, I wonder if it went on to tell him to get a real job and claim that the people who give him money are unwittingly buying into an evil suicide cult. Maybe they even attempted to trace his family back to the middle east and came to the conclusion that his guitar is a pipe bomb.
I would be more impressed if he was tripping balls on LSD and set his guitar on fire after he stopped playing. Seriously though, kids got some chops.