Early Life
Ernest C. Garcia III was born in 1982 or 1983. He is the son of Ernest Garcia II, a businessman involved in the used car industry. He earned a Bachelor of Science degree in Management Science and Engineering from Stanford University in 2005.
Rise to Success
Garcia began his career as an associate 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 its CEO. Under Garcia's leadership, Carvana went public in 2017. Garcia was also named Ernst & Young Entrepreneur Of The Year in 2016 and was included in Fortune's 40 Under 40 list in 2017.
Key Business Strategies
Carvana's success is attributed to its innovative approach to the used car market, allowing customers to buy, sell, and finance cars online. The company's car vending machines are a unique aspect of its brand. Garcia's strategies included focusing on customer experience and leveraging technology.
Philanthropy
In 2018, Garcia gave $35 million worth of his personal stock to Carvana employees.