Ernie Garcia III co-founded Carvana and has served as President and CEO since its launch in 2012. Mr. Garcia is also the Chairman of the Carvana Co. Board of Directors.
Mr. Garcia worked in several capacities with DriveTime Automotive Group, Inc. from January 2007 to January 2013. He was a financial strategist from January 2007 to December 2008.
From December 2008 to November 2009, he was the managing director of corporate finance. He was Vice President and Treasurer and Director of Quantitative Analytics from November 2009 to January 2013.
Mr. Garcia was responsible for the firm’s continued development of consumer credit scoring models, as well as their use in retail car sales deal structuring and vehicle price optimization, as Director of Quantitative Analytics.
Prior to joining DriveTime, Mr. Garcia worked as an associate in RBS Greenwich Capital’s Principal Transactions Group from 2005 to 2006, where he specialized in consumer credit-based investments.
Mr. Garcia graduated from Stanford University with a B.S. in Management Science and Engineering.
Ernie Garcia III Profile Summary
- Name: Ernie Garcia III
- Year of Birth: 1983
- Profession: Businessman
- Relationship: Married
- Net Worth: $5.2 Billion
Ernie Garcia III Early Life
He was born in 1983 in the United States and is an American billionaire entrepreneur, CEO, and co-founder of Carvana. Ernest Garcia II is his father. He enrolled at Stanford University to further his education in 2005.
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Ernie Garcia III Career
Ernie Garcia III began his career at RBS Greenwich Capital as an associate in the Principal Transactions Group. He joined DriveTime in 2007 before co-founding (together with Ryan Keeton and Ben Huston) its subsidiary Carvana in 2012, where he has served as president and CEO since its launch.
Carvana was eventually spun off from DriveTime and listed on the stock exchange in 2017. Garcia was appointed chairman of Carvana at the time.
Ernie Garcia III was selected the Mountain Desert region’s Ernst & Young Entrepreneur of the Year in the consumer technology category in 2016. Garcia and the other co-founders of Carvana were named to Fortune’s 40 Under 40 list in 2017.
Garcia’s fortune plunged 98% in 2022, according to the Bloomberg Billionaires Index, as Carvana’s stock price continued to tumble amid bankruptcy concerns.
Personal Life
Liza, Ernie Garcia III’s girlfriend, is his wife. They have three children together.
Net Worth
His net worth is believed to be $5.2 billion. According to Forbes, he is the 513th richest person in America and the 894th richest person in the world. His net worth was predicted to be $7.4 billion in 2020.
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