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Billionaire Profile
Ernest Garcia III
Global Rank
#320

Image: Gage Skidmore | CC BY-SA 3.0 | via Wikimedia Commons

Ernest Garcia III

CEO, Used cars
UNITED STATES
Real-Time Net Worth
$10.143B
Estimated based on Used cars stock value as of March 6, 2026
+4.59% (24h)
Age
43
Source
Used cars
Industry
Automotive
Citizenship
UNITED STATES

Biography

Ernest Garcia III is an American businessman and the co-founder and CEO of Carvana, an online used car retailer. Born in 1982 or 1983, he earned a Bachelor of Science in Management Science and Engineering from Stanford University in 2005. Garcia's career includes experience at RBS Greenwich Capital and DriveTime before founding Carvana in 2012. His achievements include being named Ernst & Young Entrepreneur Of The Year in 2016 and inclusion in Fortune's 40 Under 40 in 2017. He is the son of Ernest Garcia II, the owner of DriveTime and a major shareholder in Carvana. As of February 2, 2026, his net worth is estimated at $12.3 billion, and he is ranked #235 in the world.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life and Education

Ernest Garcia III was born in either 1982 or 1983. He is the son of Ernest Garcia II, a businessman who has been involved in the used car industry. Garcia III earned a Bachelor of Science degree in Management Science and Engineering from Stanford University in 2005.

Rise to Success

Garcia III began his career at RBS Greenwich Capital as an associate in the Principal Transactions Group. In 2007, he joined DriveTime, a used car retailer. In 2012, he co-founded Carvana with Ryan Keeton and Ben Huston, serving as the President and CEO since its inception. Under Garcia III's leadership, Carvana spun out from DriveTime and had an initial public offering (IPO) in 2017.

Key Business Strategies

Carvana revolutionized the used car market by offering a direct-to-consumer online platform for buying and selling vehicles. The company's innovative approach included features like a car vending machine and financing services, which streamlined the car-buying process.

Philanthropy

In 2018, Garcia gave $35 million worth of his personal stock to Carvana employees. There is no additional information regarding his other philanthropic endeavors.

Career Milestones

2005

Graduated from Stanford University

Earned a Bachelor of Science in Management Science and Engineering.

2007

Joined DriveTime

Began working at the used car retailer.

2012

Co-founded Carvana

Launched Carvana as a subsidiary of DriveTime, serving as President and CEO.

2016

Ernst & Young Entrepreneur Of The Year

Named Ernst & Young Entrepreneur Of The Year in the Mountain Desert region for the consumer technology category.

2017

Carvana IPO

Carvana went public.

Philanthropy & Social Impact

Employee Benefits

Stock Donation to Employees

$35M

In 2018, Garcia gave $35 million worth of his personal stock to Carvana employees to commemorate the company selling its 100,000th car.

Business Philosophy & Leadership

Notable Quotes

"No notable quotes found."

Leadership Principles

No leadership principles found.

No information available.

Controversies & Challenges

2022

Carvana Stock Decline

Garcia's fortune experienced a significant drop due to the decline in Carvana's stock price and concerns about the company's financial stability.

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