Ernest Garcia Iii Net Worth (Updated 2026).
Ernest Garcia III, often referred to as “Auto Buddy,” began his career in the automotive industry at a young age. Born into a family with deep roots in the business, he started working at his grandfather’s used car lot in San Antonio, Texas, at just 15 years old. This early exposure to the industry sparked his passion and set the stage for his future success.
Garcia’s rise to fame began in the late 1990s when he founded his first dealership, AutoNation, with his father and grandfather. The innovative approach he brought to the business, including a focus on customer service and a unique sales model, quickly gained attention. Within a decade, AutoNation had grown into one of the largest automotive retailers in the United States, making Ernest Garcia III a household name in the industry.
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Ernest Garcia III’s Current Net Worth (2025)
As of 2025, Ernest Garcia III’s current net worth is estimated to be around $12 billion, according to Forbes. This significant wealth is primarily attributed to his majority stake in Carvana, a leading online used car retailer.
Career
Ernest Garcia III is the co-founder and current CEO of Carvana, a company he launched in 2012 with his father, Ernest Garcia Jr. Prior to Carvana, he served as the CEO of DriveTime, another company owned by his father. Garcia’s career has been largely focused on the automotive industry, with a particular emphasis on innovative retail models.
Other Ventures
In addition to Carvana, Ernest Garcia III is also involved in other ventures. He serves on the board of directors for several companies, including DriveTime and Instacart. He has also invested in various startups and tech companies, demonstrating a diverse portfolio beyond the automotive sector.
Assets
Garcia’s assets primarily consist of his majority stake in Carvana, which went public in 2017. He also owns significant real estate properties, including a luxurious home in Phoenix, Arizona. His investment portfolio includes stakes in various tech and automotive companies, reflecting his forward-thinking approach to business.
Annual Income
As the CEO of Carvana, Ernest Garcia III’s annual income is substantial. In 2020, his total compensation was reported to be around $50 million, according to SEC filings. This figure includes his base salary, stock awards, and other compensations. However, his annual income can fluctuate significantly year to year, largely dependent on Carvana’s performance.
Frequently Asked Questions about Ernest Garcia Iii
**Frequently Asked Questions: Ernest Garcia III Net Worth**
1. What is Ernest Garcia III’s net worth?
Ernest Garcia III’s net worth is estimated to be around $1.5 billion.
2. How did Ernest Garcia III make his fortune?
Ernest Garcia III made his fortune through his involvement in the automotive industry. He is the co-founder and executive chairman of Carvana, an online used car retailer.
3. What is Ernest Garcia III’s role at Carvana?
Ernest Garcia III serves as the executive chairman of Carvana. He co-founded the company in 2012 and has been instrumental in its growth and success.
4. How has Carvana grown under Ernest Garcia III’s leadership?
Under Ernest Garcia III’s leadership, Carvana has grown significantly. It has expanded its operations to over 300 markets across the United States and has become one of the largest online used car retailers in the country.
5. What other businesses is Ernest Garcia III involved in?
Besides Carvana, Ernest Garcia III is also involved in other businesses. He is the chairman of the board of directors of DriveTime, a used car dealership and finance company.
6. How old is Ernest Garcia III?
Ernest Garcia III was born in 1969, making him 53 years old.
7. Where did Ernest Garcia III grow up?
Ernest Garcia III grew up in Phoenix, Arizona.
8. What is Ernest Garcia III’s educational background?
Ernest Garcia III graduated from the University of Arizona with a Bachelor of Science degree in Finance.
9. Is Ernest Garcia III married? Does he have any children?
Yes, Ernest Garcia III is married. He has three children with his wife, Lisa.
10. What is Ernest Garcia III’s philanthropic work like?
Ernest Garcia III and his wife, Lisa, are involved in various philanthropic efforts. They have established the Garcia Family Foundation, which supports education, health, and community development initiatives in Arizona and other communities where Carvana operates.
