Memorial Day records were shattered by Top Gun: Maverick, which took in $150 million at the US box office.
It was the first $100 million opening weekend for the star.
War of the Worlds, which opened to around $65 million, was Cruise's biggest domestic opening weekend prior to the Top Gun sequel.
The opening weekend of Top Gun: Maverick was better than the opening weekend of Pirates of the Caribbean: At World's End.
The movie took an average of $32,946 per location between May 27 and May 30 according to Comscore.
According to Paramount, around 45% of the movie's audience over the age of 35 were from the 1980s.
The data from Comscore showed that it had 38.6% of the market share over the Memorial Day weekend.
The film became the top-grossing film of the Pandemic-era when it hit the $100 million mark earlier in the weekend.
The movie, which follows Cruise's character three decades after the events of Top Gun, has received rave reviews.
The film has been well received by critics and audiences, according to the movie rating site.
It was supposed to be released in the summer of 2020 but was delayed due to the Pandemic.
The film took almost $250 million in its opening weekend.
Top Gun: Maverick took the top spot from Doctor Strange in the Multiverse of Madness, which has taken $375 million in the U.S. since its release earlier this month.
At the Cannes Film Festival earlier this month, Cruise was awarded an honor, but he said that the release of Top Gun on a streaming platform was never going to happen.
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