Update (Dec. 1, 2;40 p.m.): A source told TMZ that Toya Wright and her current husband Memphitz bought the Ferrari and Lil Wayne purchased the BMW.

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Original Story: The life of a celebrity's child is definitely one to envy. Lil Wayne's daughter, Reginae Carter, recently celebrated her 16th birthday with family and friends and received two luxurious gifts. Topped with big red bows, Reginae was surprised with two brand new cars (a BMW and a Ferrari GTO). Riding in style shouldn't be a problem.

The young author and latest member of Young Money was practically speechless by her presents as the crowd of attendees roared in applause and cheers. Nicki Minaj acted as the guest performer. T.I.'s wife Tiny Harris, Fantasia Barrino, and more celebrity guests were in attendance.

Check out footage and photos from the party.

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