Age, Biography and Wiki
Ernest Garcia II is an American businessman who is the founder and CEO of DriveTime Automotive Group, the largest used car dealership in the United States. He is also the founder and chairman of the board of directors of Carvana, an online used car retailer. Garcia was born on May 1, 1957 in American. He attended Arizona State University, where he earned a degree in business administration. After college, he worked in the automotive industry, eventually founding DriveTime in 2002. Garcia has been recognized for his business success, receiving the Ernst & Young Entrepreneur of the Year Award in 2011 and being named one of the Most Admired CEOs in Arizona by the Phoenix Business Journal in 2012. Garcia is estimated to have a net worth of $2.5 billion, making him one of the wealthiest people in the United States. He is married and has three children.
| Popular As | Ernest Garcia |
| Occupation | Businessman |
| Age | 66 years old |
| Zodiac Sign | Taurus |
| Born | 1 May, 1957 |
| Birthday | 1 May |
| Birthplace | N/A |
| Nationality | American |
We recommend you to check the complete list of Famous People born on 1 May. He is a member of famous Businessman with the age 66 years old group. He one of the Richest Businessman who was born in American.
Ernest Garcia II Height, Weight & Measurements
At 66 years old, Ernest Garcia II height not available right now. We will update Ernest Garcia II's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.
| Physical Status | |
|---|---|
| Height | Not Available |
| Weight | Not Available |
| Body Measurements | Not Available |
| Eye Color | Not Available |
| Hair Color | Not Available |
Who Is Ernest Garcia II's Wife?
His wife is Married
| Family | |
|---|---|
| Parents | Not Available |
| Wife | Married |
| Sibling | Not Available |
| Children | Ernest Garcia III |
Ernest Garcia II Net Worth
His net worth has been growing significantly in 2022-2023. So, how much is Ernest Garcia II worth at the age of 66 years old? Ernest Garcia II’s income source is mostly from being a successful Businessman. He is from American. We have estimated Ernest Garcia II's net worth , money, salary, income, and assets.
| Net worth | US$5.6 billion (July 2019) |
| Salary in 2023 | Under Review |
| Net Worth in 2022 | Pending |
| Salary in 2022 | Under Review |
| House | Not Available |
| Cars | Not Available |
| Source of Income | Businessman |
Ernest Garcia II Social Network
Timeline
As of July 2019, Garcia's net worth is estimated at $5.6 billion.
In 1991, Garcia bought Ugly Duckling, a bankrupt rent-a-car franchise, for under $1 million and merged it with his own fledgling finance company, and turned it into a company selling and financing used cars for sub-prime buyers with poor credit history. Garcia took the company public on the NASDAQ exchange in 1996, trading under the ticker "UGLY". In 1999, Garcia was involved in six lawsuits alleging he had "abused his position to profit" from a real estate deal where he ultimately acquired 17 company properties at a 10% discount. In 2002, Garcia and the former Ugly Duckling CEO, Gregory Sullivan, took the company private and renamed it DriveTime.
In October 1990, Garcia, then a Tucson-based real estate developer pleaded guilty to a felony bank fraud charge for his role as a straw borrower in the collapse of Charles Keating's Lincoln Savings and Loan Association. Garcia "fraudulently obtained a $30-million line of credit in a series of transactions that also helped Lincoln hide its ownership in risky desert Arizona land from regulators." Garcia spent three years on probation, and he and his firm filed for bankruptcy.
Ernest Garcia II (born May 1, 1957) is an American billionaire used car businessman, the owner of DriveTime, and major shareholder of Carvana.
Ernest Garcia II was born on born May 1, 1957, the son of Ernest Garcia, who owned a liquor store, and was once the mayor of Gallup, New Mexico. He dropped out, but eventually earned a bachelor's degree from the University of Arizona.
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