Ernie Garcia Net Worth (Updated 2025).

Ernie Garcia, a name now synonymous with innovation in the automotive industry, began his career in an unconventional manner. Born and raised in a humble background, Garcia’s interest in cars was sparked at a young age, leading him to start his first business at just 21 years old. He founded a car dealership, not with a vast inheritance or business loan, but by leveraging his charisma, determination, and a single, used car. This was the humble beginning of what would later become the revolutionary company, DriveTime.

Garcia’s rise to fame, however, didn’t happen overnight. He spent years honing his craft, learning the intricacies of the car business, and building a reputation for fairness and integrity. He noticed a gap in the market, a lack of car dealerships catering to customers with less than perfect credit. Seeing an opportunity to make a difference, Garcia decided to fill this void, and thus, DriveTime was born. With a unique business model that focused on providing affordable, reliable vehicles to customers often overlooked by traditional dealerships, Garcia’s star began to rise. His innovative approach to the car industry caught the attention of the media, and soon, Ernie Garcia was no longer just a name in the automotive world, but a face, a symbol of change and inclusivity.

Ernie Garcia’s Current Net Worth (2025)

As of 2025, Ernie Garcia’s current net worth is estimated to be around $1.5 billion, according to the latest available information. This significant wealth is primarily attributed to his successful career in the automotive industry.

Career

Ernie Garcia is the CEO and co-founder of CarMax, the largest used car retailer in the United States. He started his career in the automotive industry in 1993 and played a crucial role in transforming the traditional used car business model. Under his leadership, CarMax has expanded to over 225 locations across the country.

Other Ventures

In addition to CarMax, Garcia has also invested in various other ventures. He is a co-founder of DriveTime, a used car dealership and finance company, and has also invested in several tech startups, including Carvana and Fair. Garcia’s diverse investment portfolio reflects his interest in innovation and disruption within the automotive industry.

Assets

Ernie Garcia’s assets primarily consist of his stake in CarMax, which accounts for a significant portion of his net worth. He also owns real estate, including properties in Richmond, Virginia, and other locations. Additionally, Garcia’s investment portfolio includes stocks and bonds, as well as his stakes in various startup companies.

Annual Income

As the CEO of CarMax, Ernie Garcia’s annual income is substantial. In 2024, his total compensation was reported to be around $12 million, including his base salary, stock awards, and other incentives. This figure can vary year to year based on the company’s performance and Garcia’s role in its success.

Frequently Asked Questions about  Ernie Garcia

**Frequently Asked Questions: Ernie Garcia Net Worth**

1. What is Ernie Garcia’s net worth?

Ernie Garcia’s net worth is estimated to be around $1 billion.

2. How did Ernie Garcia make his fortune?

Ernie Garcia is the co-founder and CEO of Carvana, an online used car retailer. He and his business partner, Ryan Keeton, started the company in 2012, and it has since grown into a publicly traded company with a market capitalization of over $10 billion.

3. What is Ernie Garcia’s role at Carvana?

Ernie Garcia serves as the CEO of Carvana. He is responsible for the overall vision and strategic direction of the company.

4. How did Ernie Garcia and Ryan Keeton meet?

Ernie Garcia and Ryan Keeton met while working at DriveTime, a used car dealership. They worked together for several years before starting Carvana.

5. What inspired Ernie Garcia to start Carvana?

Ernie Garcia and Ryan Keeton saw the potential in using technology to disrupt the traditional used car buying process. They wanted to create a more convenient, transparent, and efficient way for customers to purchase used cars online.

6. When was Carvana founded?

Carvana was founded in 2012.

7. How does Carvana differ from traditional used car dealerships?

Carvana allows customers to shop for, finance, and purchase used cars entirely online. The company also offers a seven-day money-back guarantee and provides vehicle delivery to customers’ doorsteps.

8. What is Ernie Garcia’s educational background?

Ernie Garcia graduated from the University of Arizona with a degree in Finance.

9. Does Ernie Garcia have any other business ventures besides Carvana?

There is no public information indicating that Ernie Garcia has other business ventures besides Carvana.

10. What is Ernie Garcia’s investment strategy?

Ernie Garcia’s investment strategy is not publicly disclosed. However, as the CEO of a successful tech startup, it can be inferred that he has a keen eye for innovative and disruptive business models.