Ernest Garcia III
American businessman From Wikipedia, the free encyclopedia
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 | |
|---|---|
Garcia III in 2020 | |
| Born | Ernest C. Garcia 1982 or 1983 (age 41–42)[1] |
| Nationality | American |
| Alma mater | Stanford University |
| Occupation | Businessman |
| Known for | Chairman and CEO, Carvana |
| Parent | Ernest Garcia II |
Early life, education and family
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]
Career
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]
References
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