Social media sites are going crazy over the rumors about Taylor Swift and Beyonce Knowles and their collaboration on a new song which Jay Z is reportedly producing. Not only were the three big-named celebrities recently spotted together (on several occasions), the three are rumored to be involved in a new business venture to collaborate their successful music careers.

According to a source from HollywoodLife, Swift celebrated her birthday recently with Beyonce and Jay Z. "Taylor Swift's birthday was not just a fun celebration, it was also a business meeting for her, Jay Z, Beyonce, and Justin Timberlake," the source said.

"Name me four other people that are more powerful in the music world right now. Jay Z is obviously aware of this and he is the ultimate business man," the source added. As it has been one great year for Knowles and Swift in their individual music careers, it is speculated that if the collaboration happens, the two will gain even more success.

It is rumored that the two will be joining forces for one song and Jay Z will be the one to manage the two for their single. Not only that, it is reported that Jay Z wants more of Swift. "Jay Z wants her brand to go in with him for other business ventures as well," the source continued.

"If those four walk into a room, who is going to say no to them? Nobody! Jay Z is a mogul, he wants to make the most out of their friendship and business relationship and make the Mount Rushmore of music!" the source added.

So far none of the three musicians have announced their confirmation or denial of the rumors. However, fans are anticipating the a legendary track that could only stem from two big names like Beyonce and Taylor Swift.