Ernest García II (born May 1, 1957) is an American billionaire businessman, in the used car sector. He is the owner of DriveTime (originally named UglyDuckling), and a major shareholder of Carvana. In 1990 he pled guilty to a felony bank fraud charge for his role in the Lincoln Savings and Loan Association collapse. As of January 2025, his net worth was estimated at US$20.7 billion.[1]
Early life
Ernest García II was born May 1, 1957,[2] the son of Ernest Garcia, who co-owned a liquor store with Frank Colaianni, and was once the mayor of Gallup, New Mexico.[3] He dropped out, but eventually earned a bachelor's degree from the University of Arizona.[3]