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Father, son used-car sellers $7b richer in a day

Father, son used-car sellers $7b richer in a day

Print articleSep 23, 2020 – 8.38amLog in or  to save articleNew York | Carvana has yet to post a quarterly profit since going public in 2017, but it's made Ernest Garcia II and his son Ernest Garcia III two of the richest people in America.The elder Garcia is the largest shareholder of Phoenix-based Carvana, the online retailer that sells cars out of massive vending machines. His son, Garcia III, is the company's chief executive officer. Together they're worth $US21.4 billion ($30 billion), according to the Bloomberg Billionaires Index.Shares of the company surged 31 per cent...

September 22, 2020
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