*Talk of Mathew Knowles going broke is a little premature, considering the music mogul is swimming in money made from work he’s done or is now doing.
During an appearance on The Breakfast Club, Knowles took listeners on a trip down memory lane with stories on the Destiny’s Child, a group he still manages.
“I’m still the manager of Destiny’s Child and I own the trademark,” Knowles shared while clarifying that he doesn’t get any royalties. “From a branding and trademark perspective, whenever there’s a tour, whenever there’s a [something] outside of the music, [I get a piece of it]. But I do own the trademark. I’ve personally written some of the songs. I am a co-writer of ‘Survivor,’ so there’s publishing that I’ll receive for some of the records.”
Knowles may not see any income from Destiny’s Child royalties, but he admits that he still gets dough from work he’s done with his label Music World Entertainment. Broken down, the music exec noted that he managed to build a successful gospel and country label from Music World and was responsible for releasing the last albums from Earth, Wind & Fire and Chaka Khan.
With all this, it’s safe to say that Knowles is financially secure and isn’t paying any mind to all the tabloid talk about him.
“I don’t care about that,” he says. “When you’re 63 years old, do I care about what a 24-year-old thinks about?
“I don’t even read social media,” Knowles continued. “I’m too busy reading books, preparing for class. Writing my own book.”
As for the chatter about him selling old Destiny’s Child paraphernalia, Knowles set the record straight the thing that brought rumors of his money issues to the table, saying, “Someone on my staff for a holiday said, ‘What if we sell this stuff for a bonus?’ And I was like, ‘We need to get some of that junk out of Carriage House.’”
To see Knowles’ entire Breakfast Club interview, check out the video below:
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