Ernest Garcia III: Ernest Garcia III Net Worth, Biography, Age, Spouse, Children & More

About Ernest Garcia III

Ernest C. Garcia III, an influential American entrepreneur and Carvana's co-founder, embodies a significant figure in the online automotive retail industry since earning his degree from Stanford University in 2005. Born into controversy as the son of Ernest Garcia II, a convicted felon, Garcia III's career trajectory started at RBS Greenwich Capital before his pivotal role in establishing Carvana with partners Ryan Keeton and Ben Huston in 2012. Recognized for his accomplishments, including the Ernst & Young Entrepreneur Of The Year in 2016 and a spot on Fortune's 40 Under 40 in 2017, Garcia faced financial adversity in 2022 with Carvana's stock decline. Residing in Phoenix, Arizona, his journey reflects a blend of innovation and challenge, marking him as a noteworthy individual in finance readers' eyes.

Born

May 01, 1982

Age

43 years

Source Of Wealth

Used Cars

Industries

Automotive

Citizenship

United States

Residence

Phoenix, Arizona

Education

Bachelor of Science, Stanford University

Parent

Ernest Garcia II

Ernest C. Garcia III, an American businessman, CEO, and co-founder of Carvana, was born in 1982 or 1983. He is the son of Ernest Garcia II, a convicted felon.

Ernest Garcia III: Family

Garcia III's family background includes his father, Ernest Garcia II, who has a history of legal troubles. However, specific details about his family life and relationships are not publicly available.

Ernest Garcia III: Career Highlights

Garcia III began his career as an associate in the Principal Transactions Group at RBS Greenwich Capital. In 2007, he joined DriveTime, a used car retailer. In 2012, he co-founded Carvana with Ryan Keeton and Ben Huston, serving as 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. This milestone marked a significant achievement for the company and Garcia III's entrepreneurial success.

Ernest Garcia III: Companies

Garcia III is primarily associated with the following companies:

Carvana: Co-founder, President, and CEO
DriveTime: Former employee
RBS Greenwich Capital: Former associate

Ernest Garcia III: Major Achievements

Garcia III's major achievements include:

Co-founding Carvana and leading its growth and success
Taking Carvana public through a successful IPO
Being recognized as Ernst & Young Entrepreneur Of The Year in 2016
Inclusion in Fortune's 40 Under 40 list in 2017

Ernest Garcia III: Awards & Achievements

Garcia III has received the following awards and recognition:

Ernst & Young Entrepreneur Of The Year (2016) - Mountain Desert region, consumer technology category
Fortune's 40 Under 40 list (2017) - Honored alongside Carvana's co-founders

Ernest Garcia III: Personal Life & Legacy

Garcia III resides in Phoenix, Arizona. While details about his personal life are limited, his professional accomplishments and contributions to the automotive industry have left a lasting legacy.

Ernest Garcia III: Trivia

In 2022, Garcia III experienced a significant drop in wealth due to Carvana's falling stock price and concerns about the company's financial stability.

Wealth History

Timeline

1982 or 1983

Ernest C. Garcia III is born.

2005

Garcia earns a bachelor's degree in Management Science and Engineering from Stanford University.

2007

Garcia joins DriveTime.

2012

Garcia co-founds Carvana with Ryan Keeton and Ben Huston, serving as president and CEO since its inception.

2016

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

2017

Carvana spins out from DriveTime and has an IPO, with Garcia becoming chairman. Garcia is included in Fortune's 40 Under 40 list, along with Carvana's co-founders.

2022

Garcia experiences a significant drop in wealth due to Carvana's falling stock price and bankruptcy concerns.

Ernest Garcia III : FAQs

What is Ernest Garcia III's current net worth?

Ernest Garcia III's current net worth is $9.57 billion.

What is Ernest Garcia III's current global rank among billionaires?

Ernest Garcia III holds the 343rd position globally among billionaires.

What is Ernest Garcia III's current ranking within the United States?

Ernest Garcia III holds the 138th position in United States.

What was the change in Ernest Garcia III's net worth compared to the previous year?

Ernest Garcia III's net worth decreased by 3.46 billion dollars compared to the previous year 2025, when his net worth was 13.03 billion dollars.

What is the recent change in Ernest Garcia III's net worth?

Ernest Garcia III's net worth decreased by 68.38 million dollars recently, a 0.71% decrease, with his net worth standing at 9.57 billion dollars.

What are Ernest Garcia III's main sources of wealth?

Ernest Garcia III's main source of income comes from Used Cars.

In which industry does Ernest Garcia III primarily operate?

Ernest Garcia III is primarily involved in the Automotive industry.

What is Ernest Garcia III educational background?

Ernest Garcia III holds a Bachelor of Science from Stanford University.

How old is Ernest Garcia III?

Ernest Garcia III is 43 years old.

Who is Ernest C. Garcia III and what is he known for?

Ernest C. Garcia III is an American businessman, CEO, and co-founder of Carvana, an online used car retailer. He's recognized for his innovative approach to the automotive sales industry.

How did Ernest C. Garcia III begin his career before founding Carvana?

Before founding Carvana, Ernest C. Garcia III started as an associate in the Principal Transactions Group at RBS Greenwich Capital, and later joined DriveTime in 2007.

What significant achievements has Ernest C. Garcia III attained in his career?

Garcia has been named Ernst & Young Entrepreneur Of The Year in the Mountain Desert region for the consumer technology category in 2016 and was included in Fortune's 40 Under 40 list in 2017. He also led Carvana through its IPO in 2017.

Has Ernest C. Garcia III faced any challenges in his business career?

Yes, Ernest C. Garcia III experienced a significant drop in wealth in 2022 due to Carvana's falling stock price and bankruptcy concerns, highlighting challenges in his business career.