Jon Favreau, the Hollywood director of the first two “Iron Man” movies, revealed on his Twitter account Tuesday that he will not continue his masterpiece in the series of Iron Man part three.

It was difficult work when negotiating Favreau to direct the Iron Man 2. Although he earned $10 million for the movie, plus a share of profits, the movie came close to not happening. During the time when he created the sci-fi movie “Cowboys and Aliens,” his talent fee rose up.

Known for maintaining low costs whenever possible, Marvel wasn’t apt to pay him the extra fees. Just recently, Favreau joined to direct and enhance the “Magic Kingdom.” This is a huge movie based on the theme parks of Disney.

Favreau confirmed that he will be directing Magic Kingdom and not the Iron Man 3. He added that he had a great time with the Marvel and he wishes them the best.

During a recent MTV interview, Favreau said that the Iron Man 3 is supposed to be a sequel of Hulk, Thor, Avengers and Captain America in theory. He had no single idea what it is and he thinks Marvel doesn’t either.

The first two Iron Man movies have earned over $1.2 billion in the worldwide box office turning Robert Downery Jr. into a shining action hero. Iron Man 3 is anticipated to be out on 2013.

Iron Man is a member of the superhero team, Avengers and has been published in several comic book series. It has been adapted in TV shows as well.