The rapper made the admission while attempting to build bridges with his record label Interscope, who he has heavily criticised over the past year.
50 Cent tweeted: "I put a lot in to this project but I don't care if it ever comes out. Jimmy Iovine has been like a mentor for me. I just want to stay friends."
The revelation follows a recent series of tweets where the hip-hop star stated that he had "lost all the faith in the team I'm on", which included Interscope boss Iovine.
50 Cent also hit out at his label after it confirmed the release of his new single 'Girls Go Wild' and unveiled the official artwork without his say.
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Watch the music video for 50 Cent's latest track 'Nah Nah Nah' below: