Mathew Knowles is not going broke. We can debunk those rumors now.

Beyoncé’s dad appeared on The Breakfast Club to share throwback stories on the formation of Destiny’s Child, which are all pretty cool. But the juicy part of this interview came from him opening up about his share of the Destiny Child brand today.

“I’m still the manager of Destiny’s Child and I own the trademark,” he says, but clarified 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.”

| MATHEW KNOWLES: I’M WORKING ON A FEW DESTINY’S CHILD PROJECTS |

This led to him talking about more of his accomplishments with his label Music World Entertainment, explaining that he built a successful gospel and country label from it. He went on to say that he was responsible for putting out the last Earth, Wind & Fire and Chaka Khan albums. Needless to say, he’s not struggling for money or facing hard times like these tabloids have made it seem.

“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,” he continued. “I’m too busy reading books, preparing for class. Writing my own book.”

On the subject of selling old Destiny’s Child paraphernalia that fueled the fire for rumors about his financial troubles, he says, “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.'”

The rest of the interview talks about working with Bey and much more.

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(Photo: Power 105.1)