The rapper spoke to PEOPLE after announcing his new Las Vegas residency, 50 Cent: In Da Club this week

Eminem will be an absolute rockstar of a grandfather, according to his friend, 50 Cent.

“Oh man, he’ll be the greatest grandfather,” 50 Cent (real name Curtis Jackson) told PEOPLE, shortly after announcing on Oct. 15 that he’s soon kicking off his first ever Las Vegas concert residency, 50 Cent: In Da Club.

“That grandkid is gonna say, ‘My granddaddy is still cool. My granddad is cool.’ ” the rapper and actor, 49, adds.

News that Eminem, 52, would be taking on a new role within his family came with the release of the music video for his song “Temporary.” on Oct. 3.

At the end of the touching video, which was full of home footage of his daughter Hailie Jade Scott, 28, the rapper including a clip of Hailie Jade handing him a custom Detroit Lions football jersey that read “Grandpa” and the number 1, as well as a sonogram image. The sweet announcement that his daughter would be welcoming her first child with her husband, Evan McClintock, even caused the rapper to tear up.

And though Eminem will be a grandfather soon, according to 50 Cent, “He still didn’t lose his cool. He’s still the biggest rap artist in the world.”

The Expend4bles actoralso shared that he has actually long compared Eminem to his own grandparents.

“I compared him to my grandparents only because my grandmother raised me,” he explains. “I put Em in that space. When people help you when you can’t help yourself, it resonates the strongest, and Em put me on. So he’s my guy forever. I don’t care.”

Eminem discovered 50 Cent back in 2002 and signed the “Candy Shop” rapper to his Shady Records label. Since then, 50 Cent has become hugely successful in music and on-screen, and though he has often pivoted between music, TV and touring, Eminem has stayed laser-focused on music.

“He’s still in that pocket. He’s still doing the same thing, still drilling it, still number one, still highest selling. He can still do it. He can still hold it,” 50 Cent says.

“That’s because he never stopped. He stayed right there. When I started looking at film and television and other areas to pivot, he stayed right in a recording studio recording,” he adds of his friend’s drive.

However, like Eminem, 50 Cent is again focusing on music with his new Las Vegas residency.

50 Cent: In Da Club will run for six dates at PH Live at Planet Hollywood Resort & Casino throughout the end of 2024 and beginning of 2025 — including a special New Year’s Eve performance.

“I can really go crazy with the ideas of the production, and that’s what excited me about it,” he says.