Josh Kushner, founder of Thrive Capital, announced on X that former Disney Chief Executive Bob Iger is returning to the firm in an advisory capacity. In Kushner's post, he said, "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."
According to a report in the Wall Street Journal, Iger will work with Thrive's staff on investment decisions and provide guidance to founders across the firm's portfolio. The role is described as advisory, signaling active participation in deal assessment and founder mentorship rather than an executive management position within the firm.
Iger previously joined Thrive Capital as a venture partner in September 2022. In that earlier role he advised on day-to-day initiatives, including mentoring startup founders and identifying new investment opportunities. The latest announcement marks a return to the firm after Iger's recent tenure as chief executive of Disney.
Iger first stepped down as Disney's CEO in 2020 after a 15-year run. He returned to lead the company in November 2022 and then stepped down from the CEO role last month. While he has relinquished the chief executive position, Iger will remain on Disney's board of directors until the end of the year.
Thrive Capital focuses on investments in internet, software, and technology-enabled companies. The firm recently closed a large fund, raising $10 billion for its latest vehicle. Thrive was founded in 2009 by Kushner. The company founder is also noted as the brother of Jared Kushner, who is the son-in-law of U.S. President Donald Trump.
This return to Thrive places Iger back into a venture capital setting where he will be consulted on investment choices and will lend his experience to entrepreneurs in the firm's portfolio. The arrangement reprises elements of his prior involvement with Thrive as a venture partner while following his departure from Disney's top executive role.