Ernest Garcia III

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

Ernest Garcia III
Ernest Garcia III by Gage Skidmore.jpg
Born
Ernest C. Garcia

1982/1983 (age 38–39)[1]
NationalityAmerican
Alma materStanford University
OccupationBusinessman
Known forChairman and CEO, Carvana
Parent(s)Ernest Garcia II

Early life and educationEdit

Ernest Garcia III is the son of Ernest Garcia II.[3] He earned a bachelor's degree in Management Science and Engineering from Stanford University in 2005.[1][4][5]

CareerEdit

Garcia began his career as an associate in the Principal Transactions Group at RBS Greenwich Capital.[6] 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][4][7][8] Carvana was eventually spun out from DriveTime and given an IPO in 2017.[1] At that time, Garcia became chairman of Carvana.[9]

Garcia owns $600 million in Carvana shares, his father is the company's largest shareholder and they have full control due to their super-voting shares.[1]

In 2016, Garcia was named Ernst & Young Entrepreneur Of The Year in the Mountain Desert region for the consumer technology category [10] Garcia, along with Carvana's co-founders, were included in Fortune's 40 Under 40 list in 2017.[11]

Personal lifeEdit

Garcia lives in Phoenix, Arizona.[12][13]

ReferencesEdit

  1. ^ a b c d e Vardi, Nathan. "How An Ex-Con Became A Billionaire From Used Cars". Forbes. Retrieved 9 January 2018.
  2. ^ "Bloomberg Bilionaires Index: Ernest Garcia, III". Forbes. Retrieved 10 March 2021.
  3. ^ "Ernest Garcia, II". Forbes. Retrieved 15 August 2019.
  4. ^ a b "Executive Profile: Ernest C. Garcia III". Bloomberg LP. Retrieved 9 January 2018.
  5. ^ Ringle, Haley (Nov 15, 2016). "2016 Business Person of the Year nominee: Ernie Garcia". Phoenix Business Journal. Retrieved 15 August 2019.
  6. ^ "Carvana Co (CVNA.N)". Reuters. Retrieved 15 August 2019.
  7. ^ Diogenes, Goddess (7 June 2017). "Carvana: Disguised As 'Disruption' In The Used Car Sales Business Backed By Unethical Management". Retrieved 10 January 2018.
  8. ^ "Amber Baldet". 17 August 2017. Archived from the original on 10 January 2018. Retrieved 10 January 2018.
  9. ^ "Management and Directors". investors.carvana.com. Retrieved 10 January 2018.
  10. ^ "EY Announces Carvana CEO Ernie Garcia as EY Entrepreneur Of The Year® 2016 Consumer Technology Award Winner in the Mountain Desert Region". PR Newswire. EY. Retrieved 5 August 2019.
  11. ^ "Fortune Magazine: 40 under 40". No. August. Fortune. 17 August 2017. Retrieved 5 August 2019.
  12. ^ "Forbes profile: Ernest Garcia, III". Forbes. Retrieved 5 October 2019.
  13. ^ "Business person of the year nominations". www.bizjournals.com. 2016. Retrieved 2020-02-11.