Ernest Garcia II
$26.8B
Born
May 21, 1957
Age
68
Source of Wealth
Used cars
Residence
Tempe, Arizona
Citizenship
United States
Marital Status
Married
Children
0
Education
Drop Out, University of Arizona
- Ernest Garcia, II is the biggest shareholder of Carvana, an online platform for selling used cars and making auto loans that conducted an IPO in 2017.
- Garcia II also owns and runs DriveTime Automotive, the nation's fourth-biggest used car retailer.
- Garcia's son, Ernest Garcia III, founded Carvana as a subsidiary of DriveTime and later spun it out.
- In 1990 when he was 33, Garcia pleaded guilty to a bank fraud charge related to his dealings with Lincoln Savings & Loan.
- The son of a liquor store owner who was for a while also the mayor of Gallup, New Mexico, Garcia II was on the golf team at the University of Arizona.
- Garcia II dropped out of school before graduating to become a stockbroker and eventually turned to real estate development in Phoenix.
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