Beyonce and Jay-Z give Blue Ivy a diamond-encrusted Barbie for her birthday (Video)

On Jan. 14, 2013, The Huffington Post reported that Beyoncé and Jay-Z gifted their daughter, Blue Ivy, with a custom Barbie doll worth $80,000. The proud parents spent $200,000 on a princess-themed birthday party in New York for Blue Ivy's first birthday.

An insider told The Sun, “Nothing’s been too big or expensive for their little princess. They wanted her first birthday to set the tone for the rest of her life. They work hard for their money and the first thing they want to spend it on is their baby girl. It’s hard to imagine how they can top this next year or what her Sweet Sixteen will be like.”

Beyoncé and Jay-Z were named the highest paid celebrity couple after earning $78 million last year. Jay-Z currently rents an expensive basement suite for 1 million a year at Brooklyn's Barclays Center. The suite is filled with toys and has a play area for Blue Ivy to enjoy.

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Blue Ivy's custom Barbie doll is adorned with 160 diamonds set in white gold jewelry. $95,000 were spent to decorate the party with pink and white roses and balloons. The birthday cake cost $2,000 and the guests' goodie bags were approximately $30,000.

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Rachel Ellis is a published writer, blogger and avid reality TV fan. Rachel always keeps you in the loop when it comes to late breaking news about celebrities, television and pop culture. Contact her here.

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