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Did Matthew Knowles Pilfer Money From Beyonce & How Much Is At Stake?

 

According to online reports, Matthew Knowles has been accused of stealing money from daughter Beyonce. Allegation, he denies and is even asking a judge to settle the matter to clear his name publicly.[/p]The truth of the matter will play its self out in court. What we do know is that Mr. Knowles stands to lose a lot of money by not being Beyonce's manager and being cut out of her Live Nation proceeds.[/p]According to FORBES, "Over the past four years, Beyoncé has racked up $289 million dollars in pretax earnings, according to a tally of FORBES’ annual estimates. Mathew Knowles was likely entitled to pocket 15-20% of that sum as his daughter’s manager, plus additional amounts from the earlier years of her career."[/p]Mathew Knowles’ dismissal means he’s been locked out of Beyoncé’s future plans — which in all probability will include a major international tour to support the singer’s new album, 4, released in late June by Sony’s Columbia Records. The album moved more than 300,000 units in its first week, a career-worst for Beyoncé, but there’s no reason t0 believe she won’t be able to command her usual astronomical totals on the road. On her last tour she grossed over $1 million per night in ticket sales alone, according to concert data provider Pollstar.[/p]

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This is the site of notable journalist and filmmaker Rahiem Shabazz.

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