Ernest Garcia III

Garcia III, joined DriveTime after earning his engineering degree from Stanford University. He started building Carvana as a subsidiary of DriveTime in 2012, buying most of its used car inventory from its parent, which purchased Carvana’s loans and supplied it with other financial support and technological assistance. DriveTime later spun off Carvana, which no longer purchases vehicles from DriveTime. In order to keep his controversial past away from Carvana, Garcia II did not become one of its directors or officers, but Garcia and his son remain close. They even live directly next door to each other in Phoenix. Garcia III, 34, is Carvana’s CEO, and owns $600 million of Carvana stock. His dad remains the company’s biggest shareholder and the duo have full control due to their super-voting shares.