Matthew Knowles has managed his daughter since she debuted as a teenager in the popular group Destiny's Child in the late 1990s and throughout her career as a solo artist.
Knowles oversaw all aspects of Beyonce, from music to movies to fashion and more. Her career includes 16 Grammy awards, top-grossing movies "Dreamgirls" and "Obsessed," fashion ventures and lucrative endorsements.
No reason was given for the split, but in their separate statements, both sides indicated that it was professional, not personal.
Beyonce emphasized her personal devotion to her father.
"He is my father for life and I love my dad dearly. I am grateful for everything he has taught me," Beyonce said in a statement.
Knowles and Beyonce's mother, Tina, divorced in 2009 after 29 years of marriage. Tina Knowles worked as a stylist for Destiny's Child and continues to style her daughter. Together they launched a clothing line, House of Dereon.