Motown Mogul Berry Gordy Announces Retirement At 89

DETROIT (CBS DETROIT/ AP) — Barry Gordy -- the Motown mogul who launched the careers of numerous stars like Stevie Wonder, Diana Ross and Michael Jackson -- has announced his retirement.

It's reported the Detroit native said he had "come full circle" at a 60th anniversary event for Motown Records on Sunday.

He also said he has "dreamed about it, talked about it, threatened it" for years.

Gordy, 89, built Motown Records into a hit-making music, film and television empire that shattered racial barriers and introduced the world at large to the sounds of R&B, soul and funk.

He sold the record label in 1988, but remained active, developing a musical and staying involved with the Motown Museum's $50 million expansion campaign.

Director Lee Daniels also presented Gordy with the Motown Legacy honor.

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