Ernest Garcia, II.
Ernest Garcia II is an American billionaire used car businessman, the owner of DriveTime, and major shareholder of Carvana.
- Ernest Garcia is the biggest shareholder of Carvana, an online platform for selling used cars and making auto loans that conducted an IPO in 2017.
- Carvana was founded by Garcia’s son, Ernest Garcia, III, as a subsidiary of DriveTime Automotive and was later spun out.
- Garcia also owns and runs DriveTime Automotive, the nation’s fourth-biggest used car retailer.
- At 33, Garcia pleaded guilty in 1990 to a bank fraud charge related to his dealings with Lincoln Savings & Loan.
