Mathew Knowles highlights how investing his own money in Destiny's Child's albums and music videos gave him the power to shape and control the group’s "narrative."
BLACK ENTERPRISE: Mathew Knowles comes from a long line of Black entrepreneurs. He used his business acumen to invest in his daughters’ music careers.
Before his eldest daughter, Beyoncé, succeeded with Destiny’s Child, Knowles spent two decades working in sales. When he entered the music industry, he used his own financial resources to fund the group’s albums and music videos. This approach allowed him to ensure that Destiny’s Child and his younger daughter, Solange, could “control the narrative” of their brands without being bound by the constraints of their record label.
“I can’t remember the last time I’ve asked someone for money,” Knowles told AfroTech at the Building Wealth Today for Tomorrow Financial Empowerment Summit in Chicago on Oct. 12.
Knowles continued. “But we would spend our own money for the album. We would spend our own money on the video because we wanted to control the narrative. And once I’m using somebody else’s money, now I have to listen to their concerns. When I’m using my own money, I don’t care what your concerns are because I’m using my own money. We will do it our way, and it worked for us. I’m not saying it works for everyone, but it worked for us.”
Read the whole article here: Mathew Knowles Invested Into Destiny’s Child Music Videos
Photo courtesy of Antwan Collins