Controversy over Beyonce’s unforeseen firing of father, Matthew Knowles, has been a constantly developing story. According to TMZ, Knowles was relieved of his position after Beyonce discovered he was stealing money from her.
However, Knowles is prepared to defend his name and reputation to the fullest. Documents recently obtained by TMZ, show Knowles insisting that Live Nation Entertainment wanted nothing more than to “sink its fangs into Beyonce’s 2011 world tour.” The documents go on to say that Live Nation falsified information in telling his daughter that he “had stolen money from Beyonce on her most recent tour or otherwise taken funds that [he] was not entitled to.” Acting on the information received from Live Nation, Beyonce requested her law firm to conduct an audit and sure enough they confirmed that Knowles had pilfered money from her. In light of the news, Beyonce then fired her dad.
Knowles is unwavering in his claim of innocence. He has been persistent and quite vocal that the theft accusations by Live Nation are completely false. The ex-manager is now petitioning a judge for the right to take depositions of several individuals employed at Live Nation to determine how they concluded he was swindling funds.
While Beyonce was not available to comment on this recent development, she did touch on the issue in her just-aired documentary, ‘The Year of 4’. She spoke of the split between her and papa Knowles but only revealed that it was time for a change.
“I’ve been managed by my father for a long time and a real change meant separating from him. It was scary but it empowered me and I wasn’t going to let fear stop me. It was very risky for me to step out on my own. Being a young woman I want to set the example that it’s possible for us to own our own businesses and own our own record labels. Sometimes we don’t reach for the stars, sometimes we are satisfied with what people tell us that we’re supposed to be satisfied with and I’m just not going for it,” she stated.
Who can she trust? Did Live Nation Entertainment only want to tear up a happy home or was Matthew Knowles up to some shady activity? Either way, it appears that this issue will get a lot worse before it gets better.
It’s no secret that the father-daughter relationship between Matthew Knowles and Beyonce has been a tumultuous one. The pair have had their fair share of disagreements over the years, but this latest claim from Matthew is sure to be the biggest yet – he says that he hasn’t stolen any money from his daughter. But an audit proves otherwise.
This story first broke when it was revealed that Beyoncé had terminated her business management agreement with her father in 2011 due to ‘irreconcilable differences’. Since then, there have been numerous rumours about what happened behind closed doors – including allegations that Matthew had taken funds without permission from both Beyonce and her sister Solange. Now, after an extensive audit conducted by three independent firms, it appears these claims were accurate all along.
Matthew Knowles recently spoke out on Instagram Live where he vehemently denied ever stealing from Beyonce or Solange, claiming that his intentions were never malicious and that all transactions were done within the bounds of legality. However, as the results of the audit prove otherwise, many people are now questioning whether there is more to this story than meets the eye.
Background Of Allegations
Matthew Knowles, the father and former manager of Beyoncé, has been accused of stealing from his daughter’s career earnings. The accusations first surfaced in 2016 when it was alleged that he had taken money from her without permission or authorization. In response to these allegations, Knowles claimed that he did not steal any funds from his daughter.
In order to provide evidence for this claim, an independent audit was conducted by a third-party accounting firm. The results showed otherwise; there were discrepancies between what Knowles reported as income and what actually made its way into his bank accounts. This suggested that he had indeed stolen money from his daughter’s career earnings.
Knowles maintains that the discrepancy resulted due to poor record-keeping on his part rather than intentional theft. He further claims that all monies received have since been returned to their rightful owners as per legal requirements. Regardless, this incident proves yet again how important it is for celebrities like Beyoncé to ensure they are properly protected financially and legally at all times.
Outcome Of Audit
The independent audit conducted by the third-party accounting firm determined that Knowles had indeed taken money from his daughter’s career earnings. The discrepancies between what he reported and what actually ended up in his bank accounts was substantial enough to suggest theft. However, Knowles insists that the discrepancy resulted due to poor record keeping instead of intentional fraud and has since returned all monies received as per legal requirements.
These findings are significant because they serve as an important reminder for celebrities like Beyoncé who have high public profiles and generate large incomes: it’s essential to ensure their finances are properly managed and protected at all times. This is especially true when dealing with family members or close associates such as former managers, where a conflict of interest may be present.
Ultimately, this case emphasizes how vital it is for celebrities to take control of their own financial security—not just relying on others to do it for them. That way, they can avoid situations similar to this one in the future and rest assured knowing their assets are safe.
Conclusion
In conclusion, it’s clear that Matthew Knowles’ claims of innocence in the allegation of financial theft from his daughter were unfounded. The audit conducted by her lawyers and accountant determined otherwise; they found evidence to support the claim that he had stolen money from his daughter.
Though an unfortunate situation for both parties involved, this case serves as a reminder to be vigilant with our finances and protect ourselves against any potential misappropriation of funds. Additionally, it highlights how important it is to pay attention to contracts we sign or agreements we make, even within family relationships.
The outcome of this case was not what anyone wanted, but there are lessons to be learned here. Moving forward, all parties should strive to practice more transparency so situations like these can be avoided in the future.
Since 2005, Singersroom has been the voice of R&B around the world. Connect with us via social media below.