Mathew Knowles -- who once made millions of dollars a year as
Beyonce's manager -- just got his child support slashed because his income has
plummeted in radical fashion.
Knowles asked a judge to reduce the $12,000 monthly child
support he pays to baby mama Alexsandra Wright, with whom he has a 3-year-old
son.
Knowles -- who made $3 million a year before his daughter
fired him in 2011 -- now says he pulled
in a relative paltry $127K in 2013.
And, Knowles says, even though his income has been slashed,
his expenses remain sky high -- $51,000 a month. To make up the shortfall, he's liquidating
his assets.
The family court judge apparently validated his financial
plight, and reduced his child support to $2,485 a month. Not great news for
Alexsandra, who's been getting $300 a month in food stamps.
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