Bob Iger is returning to Thrive Capital as an advisor, just one month after stepping down as CEO of Disney after nearly 20 years.
Iger previously served as a venture partner at the company for two months in late 2022, but left after initially leaving in 2020 when Disney's board asked him to retake the helm of the media conglomerate.
“Bob provides leadership with boldness and conviction, because he knows what he's building and why he's building it. He rejoins Thrive at a time when that kind of leadership matters most,” Thrive founder Josh Kushner posted on X.
Iger already owns a stake in the company and will work with Thrive's investment staff and portfolio founders, the Wall Street Journal reported. However, his advisory role likely won't require him to work full-time.
According to PitchBook, Thrive manages more than $50 billion in assets. In February, the company announced it had raised $10 billion in capital commitments for its 10th fund, the largest in its 17-year history. Thrive owns significant stakes in OpenAI, Stripe, and SpaceX. The company also acquired a 7% stake in Cursol, a potential sale to SpaceX that could be worth about $4.2 billion, Bloomberg reported.