Knowles, head of Music World Entertainment, stopped managing his daughter's career in March 2011.
In a statement to Us Weekly at the time, Jay-Z's wife, said there was no hard feelings based on her decision.
Matthew Knowles is an actor, model, singer, and host known for his work in a number of Chinese films and TV series such as Love Me If You Dare, Deng Xiao Ping at History's Crossroad, Red Sorghum, Eastern Battlefield and Red Star Over China.
Knowles began working as a model during his second year in China. His first roles were small parts in the Chinese TV series Big Sister's Store and the short film There Will Be Blood.
Knowles signed with Phantom Talent and was shortly thereafter cast in the role of a Viking Warrior in the 2013 film Vikingdom starring Dominic Purcell.
This marks the second marriage for 61-year-old Tina, who was previously married to Matthew Knowles.
PHOTOS: Beyonce's amazing bikini body "I've only parted ways with my father on a business level," Beyonce said.
"He is my father for life and I love my dad dearly. I grew up watching both he and my mother [Tina Knowles] manage and own their own businesses.
They were hard-working entrepreneurs and I will continue to follow in their footsteps." PHOTOS: How Beyonce's body has evolved Knowles' divorced Beyonce and Solange's mother, Tina, in 2011 after 31 years of marriage.
Beyoncé's controversial new visual album Lemonade, which aired on HBO last Saturday, is littered with references to infidelity and betrayal and many believe it was Queen Bey's way of lashing out at Jay Z for cheating.