Late last year, Beyonce Knowles’ father Mathew caused a media frenzy after he was suspected of selling his superstar daughter’s memorabilia for money.

Matthew Knowles, the former brains behind the Beyonce empire, however says it’s absolutely stupid to believe such rumors.

“I think people are smart enough to know that if I needed some money, what would I make more off selling a $5 t-shirt? Or look behind me,” he says, pointing to the Destiny’s Child plaques. “Would I make more by selling maybe this plaque, and getting maybe $10,000? I mean if I really needed money I think I probably could generate at least $100-200,000…But I wouldn’t do that.”

Mr. Knowles then goes on to talk about the several buildings he owns around Houston, Texas – the Knowles’ family’s hometown – and how one of them contained lots of memorabilia collected over the years from several artists, including Beyonce. According to Mathew, it was actually his staff’s idea to sell said things , as some of them wanted it to be a part of their Christmas bonuses. “Of course you gotta understand probably 5% of this stuff was Destiny’s Child, Beyonce records – 95% of this stuff was furniture and old electronics. It was a garage sale – no more, no less,” he explains.