50 Cent has announced that he's going to become an independent artist and will be leaving his longtime record labels Universal Music Group's Interscope Records, and Eminem's imprint, Shady/Aftermath, according to the AP. The 'Candy Shop' rapper and his G-Unit Records have signed a deal with Caroline, the independent label at Capitol Music Group and one of the many labels that is part of the Universal Music Group.

50 Cent
50 Cent Is Moving To An Independent Label.

The rapper burst on to the hip hop scene in 2003 with his six-time platinum debut, Get Rich or Die Tryin' but his succeeding albums have failed to match the level of success and 50, real name Curtis Jackson, expressed dissatisfaction with his label.

"I have had great success to date with Shady/Aftermath/Interscope and I'd like to thank Eminem and Dr. Dre for giving me an incredible opportunity," 50 Cent said in a statement announcing his decision. "I've learned so much from them through the years. I am excited to enter this new era where I can carry out my creative vision."

50 Cent New York
The Rapper Grew Dissatisfied With His Experience At Interscope.

Eminem, 50's longtime mentor has released a statement wishing the rapper well: "Both myself and Shady Records are grateful to have had the chance to play a part in 50's career," Eminem said. "Shady simply would not be what it is without 50 Cent. I've developed a great friendship with 50 over the years, and that's not going to change. We know 50 will have success in his new situation, and we remain supporters of both him and G-Unit."

Eminem Spoke Warmly Of His Former Mentee.

By going independent, 50 will be able to retain greater control over his music, finances and business interests. The 38 year-old is amongst the five richest hip hop artists in the world, largely attributed to his non-music interests such as VitaminWater and SK Energy.

50 Cent's new album, Animal Ambition, will be released on the 3rd June this year.