Ernest Garcia III is the CEO of Carvana, a company he co-founded in 2012. He holds a Bachelor’s degree in Business Administration from the University of Arizona. Before Carvana, he worked at DriveTime Automotive from 2007 to 2013, where he...

Ernest Garcia III is the CEO of Carvana, a company he co-founded in 2012. He holds a Bachelor’s degree in Business Administration from the University of Arizona. Before Carvana, he worked at DriveTime Automotive from 2007 to 2013, where he played key roles in corporate finance and analytics. He has been driving Carvana's vision to make car buying easy and hassle-free, transforming how people buy vehicles online. Over the years, Garcia has navigated the company through significant growth, leading to a robust IPO in 2017. He's known for his strategic insights into consumer finance, having developed consumer credit scoring models during his time at DriveTime. In 2022, his total compensation was about $323,000, which highlights a unique compensation structure heavily tied to performance metrics, with no cash bonus awarded for that year. Since 2019, he has seen fluctuations in his investments, notably experiencing a surge in his holdings during 2020, where transactions reached upward of $40 million, marking a pivotal moment for him and the company. Garcia's ability to leverage his past experiences with innovative thinking has helped Carvana to become a leader in the online automotive marketplace.