50 Cent has also co-written several works of fiction
50 Cent is adding film production to his existing business ventures, which already include a record label and a clothing line.
The rapper-turned-actor unveiled his plans for Cheetah Vision at the Sundance Film Festival in Utah.
50 Cent, whose real name is Curtis Jackson, said his new company had already bought eight scripts.
He told Reuters the first to be produced would be The Dance, starring himself and Nicolas Cage.
Jackson said: "He (Cage) plays the founder of a boxing program, and I play a fighter who goes to state prison."
He added that he was unconcerned about starting a new business during the global financial crisis.
He said: "I don't think it will affect me as much as it will the other people that are out there because I'm not afraid to finance some of these things myself if I have to."
The rapper was ranked number 26 on Forbes magazine's 2008 list of top 100 richest celebrities with estimated earnings of about $150 million between June 2007 and June 2008.
50 Cent made his acting debut in 2005's Get Rich or Die Tryin'
He made most of the money by selling a drinks company he part-owned to Coca-Cola.
Jackson also makes his debut as a director this year and is giving away the film, Before I Self Destruct, free with his latest album.
The film mirrors his troubled early life, telling the tale of an inner city boy who takes up a life of crime in order to support his younger brother.
Later this year, he will star in Streets of Blood with Val Kilmer and Sharon Stone, as well as 13 with Mickey Rourke.