Beyonce and Jay-Z Partner with Tiffany & Co. and Then Yacht the Med

After East Hampton residents Beyoncé and Jay-Z starred in the launch of Tiffany & Co.’s “About Love” campaign, including a stylish short film set to Bey singing “Moon River,” which debuted on tiffany.com this week (see above). The partnership continued with the launch of the new About Love Scholarship program with BeyGood and Shawn Carter Foundation — created for students at historically Black colleges and universities (HBCUs) pursuing creative fields.

Tiffany & Co. has pledged $2 million in scholarship funding for students in the arts at HBCUs. Among the photos for their campaign, with scenes inspired by the “About Love” film, the famous duo posed in front of a Jean Michel Basquiat painting, in Tiffany blue, with Jay-Z taking on the late artist’s signature dreadlocked hairdo, and Beyonce posing as Audrey Hepburn in a backless Balmain gown and 128-carat diamond, conjuring the actress’ role in, of course, Breakfast at Tiffany’s.

Jay-Z, by the way, purchased one of Basquiat’s valuable paintings, “Mecca” (1982) via Sotheby’s for $4.2 million in 2013. Some have complained that Basquiat would hate having his work used in a commercial.

“We would like to thank the Shawn Carter Foundation, BeyGood, the Carters and the Tiffany & Co. family for including Lincoln University in this amazing gift,” Lincoln University president Brenda A. Allen said in a statement about the scholarship.

Meanwhile, now that the Hamptons summer is officially over, the superstar couple took off to a 450-foot-long superyacht, Flying Fox, and are cruising the Mediterranean. The massive yacht costs nearly $4 million per week to charter, according to Forbes, and Bey and Jay are posting plenty of pics on Instagram to chronicle their luxe vacation.