Former Disney (NYSE:DIS) CEO Bob Iger is rejoining Josh Kushner‘s Thrive Capital as an advisor, a month after handing the reins to successor Josh D’Amaro.

The Wall Street Journal reported that Iger will be working with Thrive's investment staff and portfolio founders, but it will likely not be a full-time job. Iger apparently already has a stake in the firm as well. 

Iger stepped down from his leadership role, passing the torch to D'Amaro, the former chairman of experiences. Iger is serving as a senior adviser to D’Amaro through the end of 2026.

Iger had earlier spent about two months as a venture partner at Thrive in late 2022, but stepped away after Disney's board requested that he return to lead the company again, following his original exit in 2020.

As the CEO of Disney for nearly two decades, Iger is credited with expanding the company into new categories and growing its library of intellectual property with several acquisitions.

"We are honored to welcome Bob Iger back to Thrive. 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," Kushner wrote in a post on X.

"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. The companies that matter most will not just deploy the most advanced technology. They will understand what their customers truly want and place human judgment, taste, and craft at the center of what they build," Kushner added.

New York City-based Thrive Capital was founded in 2009 and focuses on internet and software investments. The firm manages more than $50 billion in assets, according to Pitchbook and reported by Techcrunch.

In February, it was announced that the venture capital firm raised more than $10 billion for a new fund, Thrive X, which targets investments in AI applications, infrastructure, robotics, and life sciences.

Thrive X doubled the size of its last fund. Thrive IX raised more than $5 billion in 2024, its largest-ever fundraise. This was split between a $4 billion late-stage investment fund and a $1 billion early-stage fund. 

Thrive Capital has also backed several well-known technology companies, including SpaceX, Stripe, and OpenAI.

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