No. 105United States
Ernest Garcia II
Used cars · Tempe, Arizona
Net worth
$24.2B
Today
+$231M+0.96%Past month
+$3.1B+14.68%As of Nov 11, 2026, 1:50 PM EST
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, one of the nation's biggest used car retailers. 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 II pled guilty to a bank fraud charge related to his dealings with Lincoln Savings & Loan.
Net worth over time
+14.68%+$3.1B over the past month
$25B$23B$20B
Oct 12Nov 11
Principal holdings
2 positions| Company | Industry | Share | Value |
|---|---|---|---|
Carvana NYSE: CVNA | Automotive | 64.0% | $15.5B |
Private and other holdings | Automotive | 36.0% | $8.7B |
Also known for
- 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.