Scooter Braun declares his retirement from the music industry.

One of the most well-known figures in the music industry, Scooter Braun, who has managed musicians including Ariana Grande and Justin Bieber, is leaving his position as a music manager.

The businessman and executive shared the news on his Instagram page on Monday. Rather, he will concentrate on his present roles: is the CEO of Hybe America, a South Korean entertainment firm, and a board member of Hybe.

The news was made over a year after there was much conjecture about Braun’s direct administration of his superstar squad.

In a long statement, he said, “After 23 years, this chapter as a music manager has come to an end.” In actuality, I had only turned 19 when I began. I so assumed the position of an artist manager who was available seven days a week for the entirety of my professional life. And I enjoyed it for twenty years. That was all I knew. But when my kids grew older and everything in my personal life went wrong, I realized that my kids were three superstars that I couldn’t let go of.

“Every client I have had the honor of working with has transformed my life, and I am aware that many of them are only now starting to experience the success they so richly deserve,” he said.

Braun listed a number of his past clients in his statement, including Carly Rae Jepsen, PSY, Quavo, Andrew Watt, Lil Dicky, Tori Kelly, J Balvin, Demi Lovato, Zac Brown Band, Martin Garrix, David Guetta, and Steve Angello.

Hybe executives stated last week that although Braun was no longer managing Grande, they were still collaborating.

A statement said, “Ariana Grande and Hybe, led by CEO Scooter Braun, look forward to pursuing creative opportunities in Weverse and REM Beauty and continuing their long-standing business partnership.”

Online rumors started circulating in August, claiming that Bieber was splitting up with Braun, his longtime manager and the person who is credited with finding him. Media sites started revealing in the days that followed that Braun was losing business from some of his other high-profile clients, including Lovato and Grande.