Bob Iger is returning to Thrive Capital a month after he stepped down from his position as Disney’s CEO — a role he held for two decades. Iger had previously served a two-month stint as a venture partner at the firm in late 2022, but left when the Disney board asked him to return to its helm, following his initial departure from the company in 2020.
Thrive Capital is a New York-based venture capital firm, founded by Joshua Kushner. Kushner announced Iger’s return Thursday, taking to X to write: “Bob leads with boldness and conviction because he knows what he is building and why. He is rejoining Thrive at a time when that kind of leadership matters most.”
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Kushner added, “we are living through the most consequential technology shift of our lifetimes, where AI will democratize access to intelligence in the way the internet democratized access to information,” and noted that Iger’s experience with both technology and creativity will be pivotal in that new world.
Thrive has previously backed companies like OpenAI, Spotify and A24, and had announced a $10 billion raise for a new fund earlier this year. Iger reportedly connected with OpenAI CEO Sam Altman through Thrive. That meeting ultimately led to the Disney-OpenAI deal last year, which was unwound after OpenAI exited the generative video business in March.
During his foray outside of Disney, Iger also invested in companies like Genies, Funko and GoPuff. He and his wife Willow Bay also acquired the Angel City Football Club, a soccer team in the NWSL.
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Iger has been credited with shaping modern Disney, through its deals for Pixar, Marvel and 21st Century Fox. He will also stay on as senior adviser till his retirement from the company at the end of the year on Dec. 31.
In February, Disney named theme parks head Josh D’Amaro as its new CEO, following years of uncertainty over succession. The Disney board, led by former Morgan Stanley CEO James Gorman, have been vetting candidates for the role for the past few years.
D’Amaro took on the role amid leadership uncertainty, and mixed reception from Wall Street on Disney’s business. Alongside D’Amaro’s appointment, Disney also named entertainment co-chief Dana Walden as chief content officer and president.