Music mogul Scooter Braun has announced his retirement from talent management after 23 years.
The entrepreneur, 42, said he took a step back to focus on his role as a father and chief executive of entertainment company HYBE America.
Last year, it was reported that a number of Braun’s high-profile clients, including Ariana Grande and Justin Bieber, were parting ways with the manager.
In an almost 1,400 word statement posted on his Instagram account, Braun said he was now “a father first, a CEO second and a manager either.”
New York-born Braun is one of the most successful music managers in the world.
His big break came in 2008, when he spotted 12-year-old Justin Bieber singing on YouTube.
He tracked the youngster down at his school, asked board members to put him in touch with Bieber’s mother and signed him to a label he had formed with R&B star Usher.
Braun’s other clients include Demi Lovato, David Guetta, Black Eyed Peas, Ava Max, Carly Rae Jepsen and Quavo.
Braun said he decided to step away from music management after “one of my biggest clients and friends told me he wanted to spread his wings and go in a new direction.”
He did not say who the customer was.
Braun said that although he had worked “24 hours a day, seven days a week” for “his entire adult life,” it was “time to take on a new role.”
“As my children grew up and my personal life took a hit, I realized that my children were three superstars that I was not prepared to lose,” he said.
“The sacrifices I was once willing to make, I could no longer justify.”
Braun is also well known for his feud with Taylor Swift, which began in 2019 when he bought her former label Big Machine for $300 million (£227 million) through his Ithaca investment group Holdings.
This meant he took control of the master recordings for Swift’s first six albums.
In response, Swift blocked requests for her music to be used in TV shows and films, cutting off a vital revenue stream for Braun’s investment group.
She then began re-recording all of her old material, regaining ownership of the albums and further devaluing the originals.
