Academy Award nominee Will Smith was honored at this year's Santa Barbara International Film Festival with a prestigious Modern Master Award. The Associated Press reports that Smith was presented with the accolade, which celebrates his career accomplishments, by friend and fellow actor Tom Cruise. The former rapper and acclaimed actor was recently nominated for a Best Actor Academy Award for his role in the film The Pursuit of Happyness. In the film the Fresh Prince plays a struggling single father who faces down enormous odds to achieve his dream of becoming a stockbroker. “People are enjoying the film and it's reached a level of critical acclaim; it can't get any better than this,” Smith said. “This is such a glorious time, it feels almost like emotional, spiritual greed.”