The Lose Yourself rapper - whose real name is Marshall Mathers III - has subsequently been slammed by many of his fans, and the parents of some of those who lost their lives at the gig.
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Figen Murray, the mother of Martyn Hett, who was just 29 when he died, tweeted: "Feels like he is piggybacking on the fame of Ariana Grande and Justin Bieber and says distasteful things about other celebrities. Not clever. Totally pointless. And before all Eminem fans pounce on me, I am not interested and will not engage."
The mother of Charlotte Hodgson, 15, who also died at the hands of the extremist Salman Abedi, called the song "disgusting" and "disrespectful".
According to The Guardian, Elkan Abrahamson, a solicitor for many of the families whose children were victims of the atrocity, said: "Eminem is a traitor to his talent; this is disrespectful, unwarranted and needlessly cruel."
However, others defended the rapper.
The US star previously rapped about the terrorist attack in a 2018 freestyle, in which he spoke of "seeing Ariana Grande sing her last song of the evening" and compared himself to "a jihadist extreme radical suicide bomber".
The full verse went: "Squashed in between a brainwashing machine/ Like an Islamic regime, a jihadist extreme radical/ Suicide bomber that's seeing Ariana Grande sing her last song of the evening/ And as the audience from the damn concert is leaving/ Detonates the device strapped to his abdominal region/ I'm not gonna finish that, for obvious reasons."
Eminem had, at the time of the attack, called on his fans and followers to help raise funds for the many charities supporting the victims and bereaved families.
He tweeted: "Join me in helping Manchester victims & their families, Make a donation to the @BritishRedCross and @MENnewsdesk (sic)"
The 47-year-old record producer is yet to address the negative comments.