Skip to content

The owners of this used car company added $ 5 billion to their net worth in one day

September 25, 2020

Carvana shares rose 31% in New York on Tuesday after reporting record results and rebounding 150% in 2020.

2 min read


  • The company’s shares rose 31% in New York on Tuesday after reporting record earnings and rebounding 150% in 2020.
  • This increase can be explained by the current economic conditions of Americans who have opted for online shopping and used items like those offered by Carvana.
The owners of this used car company added $ 5 billion to their net worth in one day
The owners of this used car company added $ 5 billion to their net worth in one day

Ernie Garcia II and Ernest Garcia III, Owner of Carvana, a company dedicated to the online sale of used cars for sale in large vending machines, according to the Billionaires Index of Bloomberg.

According to the U.S. media, the company’s shares rose 31% this Tuesday in New York after reporting a record high and rebounding 150% in 2020, adding $ 5 billion to owners’ equity in one day.

Photo: Depositphotos.com

This increase can be explained by the current economic conditions of Americans who have opted for online shopping and used items like those offered by Carvana.

Last year this company’s sales doubled to $ 3.9 billion on sales of 200,000 cars. However, this year it is on track to hit 2 million sales Bloomberg.

The owners are among the richest men in the United States. Ernie Garcia II, the company’s largest shareholder, and his son Ernest Garcia III, who serves as CEO, have combined assets of $ 21.4 billion. .

Receive Breaking News !

Install
×
Enable Notifications    Ok No thanks