Ernest Garcia III
Ernest Garcia III | |
|---|---|
 Garcia III in 2020 | |
| Born | Ernest C. Garcia 1982 or 1983 (age 40–41)[1] |
| Nationality | American |
| Alma mater | Stanford University |
| Occupation | Businessman |
| Known for | Chairman and CEO, Carvana |
| Parent | Ernest Garcia II |
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.
Early life, education and family
[edit]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
[edit]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
[edit]- ^ a b c d Vardi, Nathan. "How An Ex-Con Became A Billionaire From Used Cars". Forbes. Retrieved 9 January 2018.
- ^ "Ernest Garcia, II". Forbes. Retrieved 15 August 2019.
- ^ a b "Executive Profile: Ernest C. Garcia III". Bloomberg LP. Retrieved 9 January 2018.
- ^ Ringle, Haley (Nov 15, 2016). "2016 Business Person of the Year nominee: Ernie Garcia". Phoenix Business Journal. Retrieved 15 August 2019.
- ^ "Forbes profile: Ernest Garcia, III". Forbes. Retrieved 5 October 2019.
- ^ "Business person of the year nominations". www.bizjournals.com. 2016. Retrieved 2020-02-11.
- ^ "Carvana Co (CVNA.N)". Reuters. Retrieved 15 August 2019.
- ^ Diogenes, Goddess (7 June 2017). "Carvana: Disguised As 'Disruption' In The Used Car Sales Business Backed By Unethical Management". Retrieved 10 January 2018.
- ^ "Amber Baldet". 17 August 2017. Archived from the original on 10 January 2018. Retrieved 10 January 2018.
- ^ "Management and Directors". investors.carvana.com. Retrieved 10 January 2018.
- ^ "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.
- ^ "Fortune Magazine: 40 under 40". No. August. Fortune. 17 August 2017. Retrieved 5 August 2019.
- ^ Albright, Amanda (7 December 2022). "Carvana Founder's Fortune Plunges 98% as Firm Burns Through Cash". Bloomberg News.