Ernest C. Garcia III (born 1982/1983) is an American businessman, and the CEO and co-founder of

Carvana Carvana is an online used car retailer based in Tempe, Arizona. The company is the fastest growing online used car dealer in the United States and is known for its multi-story car vending machines. Carvana was named to the 2021 ''Fortune 500' ...

Early life and education

Ernest Garcia III is the son of Ernest Garcia II. He earned a bachelor's degree in Management Science and Engineering from Stanford University in 2005.

Career

Garcia began his career as an associate in the Principal Transactions Group at RBS Greenwich Capital. He joined DriveTime in 2007, before co-founding (with Ryan Keeton and Ben Huston) its subsidiary

in 2012, with Garcia as president and CEO since its inception. Carvana was eventually spun out from DriveTime and given an IPO in 2017. At that time, Garcia became chairman of Carvana. In 2016, Garcia was named

Ernst & Young Ernst & Young Global Limited, trade name EY, is a multinational professional services partnership headquartered in London, England. EY is one of the largest professional services networks in the world. Along with Deloitte, KPMG and Pricewat ...

Entrepreneur Of The Year in the Mountain Desert region for the consumer technology category Garcia, along with Carvana's co-founders, were included in Fortune's

40 Under 40 ''Fortune'' magazine's 40 Under 40 is a list of individuals the publication considers to be the most influential young leaders for the year. The list has existed in two phases: First, from 1999 to 2003, the list was presented purely as a numeric ...

list in 2017. According to the ''

Bloomberg Billionaires Index The ''Bloomberg Billionaires Index'', launched in March 2012, is a daily ranking of the world's 500 richest people based on their net worth. It draws information from "action in the stock market, economic indicators and news reports", features a p ...

'', Garcia's wealth dropped 98% in 2022, as Carvana's stock price continued to fall amid bankruptcy concerns.

Personal life

Garcia lives in

Phoenix, Arizona Phoenix ( ; nv, Hoozdo; es, Fénix or , yuf-x-wal, Banyà:nyuwá) is the capital and most populous city of the U.S. state of Arizona, with 1,608,139 residents as of 2020. It is the fifth-most populous city in the United States, and the on ...

References

{{DEFAULTSORT:Garcia, Ernest Living people American company founders 1980s births Stanford University alumni Businesspeople from Phoenix, Arizona Former billionaires