Bob Iger has chosen the next step of his career after stepping down as CEO of The Walt Disney Company, joining the venture capital firm Thrive in an advisory role.
The former executive will work with the firm’s staff on investments and with founders of companies in Thrive’s portfolio, including OpenAI’s Sam Altman, with whom Iger inked a $1 billion deal between OpenAI and Disney that fell apart after the former shut down its generative AI video software, Sora. The company’s portfolio also includes entertainment and media companies like Spotify and indie film studio A24.
Thrive Capital was founded by Joshua Kushner, a former Goldman Sachs banker and son of real estate developer Charles Kusher and brother of President Trump’s son-in-law Jared Kushner. Joshua shared the news in a Thursday post to X.
“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,” he wrote. “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.”
Iger first announced his retirement as Disney CEO back in February 2020, but remained with the company until spring 2021 due to the COVID-19 pandemic. His time away from Disney was short-lived as his successor, Bob Chapek, was ousted in November 2022, leading to Iger’s return.
During that interlude between his two tenures at Disney, Iger served as a venture partner at Thrive, during which time he first met Altman prior to OpenAI’s release of its paradigm-shifting software ChatGPT. Iger stepped down as partner upon his return to Disney.
Iger’s second tenure at the media company ended on March 18, 2025, as he was replaced as Disney CEO by the head of the company’s Parks and Experiences division, Josh D’Amaro. Iger will remain as a senior adviser to D’Amaro and a member of Disney’s board through the end of 2026.
The news was first reported by The Wall Street Journal.
