No. 307United States
Ernest Garcia III
Used cars · Phoenix, Arizona
Net worth
$11.3B
Today
+$163M+1.46%Past month
+$2.2B+23.81%As of Nov 11, 2026, 1:50 PM EST
Ernest Garcia III is the cofounder and CEO of Carvana, an ecommerce platform for buying and selling used cars. Garcia III launched Carvana in 2012 as a subsidiary of DriveTime, a traditional used car business founded and run by his billionaire father, Ernest Garcia II. Garcia started Carvana as a way to sell used cars directly instead of relying on middlemen; the company also offers financing services. In 2017, Carvana spun out of Drivetime in an IPO that raised $225 million. Garcia III's father helped fund the initial development of Carvana and remains its largest shareholder.
Net worth over time
+23.81%+$2.2B over the past month
$12B$10B$9B
Oct 12Nov 11
Principal holdings
2 positions| Company | Industry | Share | Value |
|---|---|---|---|
Carvana NYSE: CVNA | Automotive | 96.2% | $10.9B |
Private and other holdings | Automotive | 3.9% | $436M |
Also known for
- In 2018, Garcia gave $35 million worth of his personal stock to Carvana employees to commemorate the company selling its 100,000th car.