Ernest Garcia III's Biography

Ernest Garcia III is a prominent American entrepreneur best known for co-founding and serving as CEO of Carvana, a pioneering e-commerce platform for buying and selling used cars. Born on May 6, 1982, Garcia comes from a family with a strong background in the automotive and finance industries. After earning his degree in Management Science and Engineering from Stanford University, he began his career at DriveTime, a used car retailer owned by his father. In 2012, Garcia launched Carvana as a subsidiary of DriveTime, aiming to revolutionize the car-buying process by offering a fully online, hassle-free experience. Under his leadership, Carvana quickly grew into one of the fastest-growing automotive retailers in the United States, becoming a Fortune 500 company and earning Garcia a spot on Forbes' 40 Under 40 list. Despite facing scrutiny over stock market volatility and regulatory issues, Garcia remains committed to innovation and customer satisfaction. Known for his forward-thinking approach, Garcia continues to lead Carvana through rapid growth and industry disruption, making him one of the most influential figures in the business world today. His estimated net worth as of 2024 is around $4 billion, reflecting both his success and the dynamic nature of the used car market.