Bob Iger, who stepped down as Disney’s chief executive last month, has taken a role as an adviser to venture-capital firm Thrive Capital, according to a Wall Street Journal report.
New York-based Thrive Capital was founded in 2009 by Josh Kushner, the younger brother of Jared Kushner, who is Donald Trump’s son-in-law. Josh Kushner, 40, is a former Goldman Sachs banker and son of real-estate developer Charles Kushner.
Iger is familiar with the firm: In September 2022, he had joined Thrive Capital as a venture partner, after he had previously relinquished the Disney CEO role and his tenure as as executive chairman concluded at the end of 2021. But in November 2022, the Disney board called Iger back into service to replace his successor as CEO, Bob Chapek, who was ousted after a series of missteps.
A spokesman for Thrive Capital declined to comment. Disney reps did not respond to a request for comment.
Per his agreement with Disney, Iger will remain employed by the company through the end of 2026, in which capacity he will serve as a “senior adviser” to new Disney CEO Josh D’Amaro. Iger also remains on Disney’s board through his current term.
At Thrive, Iger will “work with the firm’s staff on investments and with founders of companies” in the VC company’s portfolio, according to the Journal piece. Thrive recently raised $10 billion for a new set of funds. Its portfolio of investments have included Instagram, Spotify, Patreon, Robinhood, OpenAI and indie film studio A24.
In a statement in September 2022, Iger said about joining the VC firm: “I look forward to working with the extraordinarily talented team at Thrive as they strive to build and nurture companies that will be future industry leaders across key sectors. I have long believed that by harnessing and advancing technology we can transform businesses and ultimately change our world for the better, and this is exactly what Thrive intends to do and I’m excited to join them in this important endeavor.”
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Leading up to the end of his second term as Disney’s CEO, Iger had reportedly said he wanted to dedicate more time to non-Disney pursuits. That includes Angel City FC, the professional women’s soccer team in which Iger and his wife, Willow Bay, dean of the USC Annenberg School for Communication and Journalism, bought a controlling stake two years ago.
From Variety US