Ernest Garcia, III | $10B+

Billionaire

Aug 6

Get in touch with Ernest Garcia, III | Ernest C. “Ernie” Garcia III is the American tech‑entrepreneurial executive behind Carvana, the disruptive used‑car retail marketplace he co‑founded in 2012. A Stanford alumnus in Management Science & Engineering, he previously worked at DriveTime and RBS Greenwich Capital. Under his leadership, Carvana went public in 2017 and became a Fortune 500 company. Despite market volatility, Garcia continues to steer its turnaround as CEO and Chairman.

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

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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

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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

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Ernest Garcia, III | $10B+

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