Music mogul Scooter Braun has announced his retirement from talent management after 23 years.
The New York-born entrepreneur, 42, said he has stepped back to focus on his role as a father, as well as chief executive of Hybe America, which acquired Braun's company Ithaca Holdings in 2021.
Last year, it was reported that a number of high-profile Braun clients, including Ariana Grande and Justin Bieber, had parted ways with the manager.
In an Instagram post, Braun said: "23 years. That’s how long I have been a music manager.
"23 years ago, a 19-year-old kid started managing an artist named Cato in Atlanta, GA and my journey began.
"Along the way I have had so many experiences I could never have dreamt of.
"I have been blessed to have had a 'Forrest Gump’-like life while witnessing and taking part in the journeys of some of the most extraordinarily talented people the world has ever seen.
"I’m constantly pinching myself and asking ‘how did I get here?’ And after 23 years this chapter as a music manager has come to an end."
Braun added that he had "wanted this for a while" but said he was scared to ask himself who he would be without his clients.
"For my entire adult life, I played the role of an artist manager on call 24 hours a day, 7 days a week," he said.
"And for 20 years I loved it. It’s all I had known.
"But as my children got older, and my personal life took some hits, I came to the realization that my kids were 3 superstars I wasn’t willing to lose.
"The sacrifices I was once willing to make I could no longer justify. It was time to step into a new role."
Braun said he is now "a father first, a CEO second, and a manager no more."
He added that he has been "heading towards this destination" for the past two years but said "it wasn’t until last summer that this new chapter became a reality".
"One of my biggest clients and friends told me that they wanted to spread their wings and go in a new direction," he said.
"We had been through so much together over the last decade, but instead of being hurt I saw it as a sign."
Braun did not outline who this client was.
The PA news agency understands that Frozen star Idina Menzel and singer Demi Lovato parted ways with Braun in summer 2023, after both being represented by him since 2019.
In his statement, Braun outlined some of his "truly overwhelming" career highlights, including watching Usher perform at the Super Bowl this year.
He continued: "There has been a lot said about what is happening in our company… and in my career.
"When we had success I smiled, and when we were attacked I tried to always take the high road.
"But for the last 3 years I have begun to feel that taking the high road has created confusion and ambiguity as to who we are."
Attention was drawn to Braun’s management in 2019 when he became embroiled in a feud with Taylor Swift after acquiring the recordings of her first six albums after he bought her former label.
Though the masters have since changed hands again after a deal with investment firm Shamrock Capital, Swift has continued with a bid to regain ownership of the music by creating new versions of the songs.
Ending the statement, Braun said: "So yes, it’s been 23 years. And yes, this chapter has come to an end.
"But the great (record producer) Berry Gordy once told me ‘young man, it never ends the way you wanted, but it doesn’t mean it didn’t happen.’
"That wisdom has proven to be correct. I never saw how this chapter would end, hell, I never even saw it happening. But it did. And I will cherish every moment of it.
"I made my plan… but it turns out I like God’s plan better. Cheers!"
Source: Press Association
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