Beyonce Knowles and Jay-Z present over-the-top gift for their daughter, Blue Ivy Carter. The Sun reported the doting parents had spent $80,000 to buy their little girl a diamond-encrusted Barbie as a gift for her 1st birthday.

They allegedly splurged $200,000 on the kid's birthday party. The powerhouse couple reportedly threw a lavish princess-themed party for their close family members and friends in New York to mark their daughter's turning age.

They were said splashing out $95,000 on the decorations, and over $2,000 for the cake. They additionally spent $30,000 for the goodie bags given to the guests. Inside the bags, there were concert tickets and personalized gold pens engraved with Blue Ivy's and each guest's names.

Mama Bey and Dad Jay-Z always want the best for their daughter. They reportedly have spent $1 million to build a nursery with a gold crib. They are also rumored renting a crib for their daughter at the luxurious basement suite of the newly-opened Barclays Center for $1 million a year.

Not only is Blue Ivy spoiled by her parents but she is also showered with lavish gifts by her parents' celebrity friends. Gwyneth Paltrow got her a $1,029 stroller, Kelly Rowland gave her a Bob Marley onesie, and Questlove sent her an iPod full of specially-curated tunes.

The little girl, who turned one year old on Monday, January 7, is also already building up quite the collection of expensive shoes. She allegedly has got a pair of custom-made Swarovski-encrusted sneakers specially created by designer Ruthie Davis. Having famous and super-rich parents sure has its perks.