Ernest Garcia III | |
|---|---|
 Garcia III in 2020 | |
| Born | Ernest C. Garcia 1982or1983(age 41–42) [1] |
| Nationality | American |
| Alma mater | Stanford University |
| Occupation | Businessman |
| Known for | Chairman and CEO, Carvana |
| Parent | Ernest Garcia II |
Ernest C. Garcia III (born 1982/1983) is an American businessman. He is the co-founder and chief executive officer of online used car retailer Carvana.
Ernest Garcia III is the son of businessman Ernest Garcia II. [2] He earned a bachelor's degree in Management Science and Engineering from Stanford University in 2005. [1] [3] [4] Garcia lives in Phoenix, Arizona. [5] [6]
Garcia began his career as an associate in the Principal Transactions Group at RBS Greenwich Capital. [7] He joined DriveTime in 2007, before co-founding (with Ryan Keeton and Ben Huston) its subsidiary Carvana in 2012, with Garcia as president and CEO since its inception. [1] [3] [8] [9] Carvana was eventually spun out from DriveTime and given an IPO in 2017. [1] At that time, Garcia became chairman of Carvana. [10]
In 2016, Garcia was named Ernst & Young Entrepreneur Of The Year in the Mountain Desert region for the consumer technology category [11] Garcia, along with Carvana's co-founders, were included in Fortune's 40 Under 40 list in 2017. [12]
According to the Bloomberg Billionaires Index , Garcia's wealth dropped 98% in 2022, as Carvana's stock price continued to fall amid bankruptcy concerns. [13]
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