Out was originally a homosexual term for a person who is comfortable being characterised as such, so can be regarded as "out of the closet". It now has other meanings, mainly "one who admits something proudly".
The verb "to out" usually refers to the action of revealing that a public figure is gay and reporting their sexuality in the media or on the Internet; it has the implication that the person in question did not want to be outed as gay.
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