But the Grammy-winning singer maintains that the split was amicable and only "on a business level."
"I've only parted ways with my father on a business level," she says in a statement. "He is my father for life and I love my dad dearly. I am grateful for everything he has taught me."
"I grew up watching both he and my mother manage and own their own businesses. They were hardworking entrepreneurs and I will continue to follow in their footsteps."
Mathew Knowles had managed his daughter since she debuted as a teen in the multi-platinum selling Destiny's Child.
In fact, he helped prepare Beyonce, her friend Kelly Rowland and two others for the R&B girl group. His daughter's solo success has included three blockbuster solo CDs and sixteen Grammy awards.
Beyonce's parents divorced in 2009 after 29 years of marriage. But mother Tina, who worked as a stylist for Destiny's Child, continues to style her daughter to this day.
