Business
Father and son used-car sellers get $7 billion richer in a day – Sydney Morning Herald
Carvana, which sells car out of gigantic vending machines, has yet to post a quarterly profit since going public in 2017, but it’s created two of the richest people in America.
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 Carvana, the online retailer that sells cars out of massive vending machines. His son, Ernest Garcia III, is the company’s chief executive officer. Together they’re worth $US21.6 billion ($30.1 billion), according to the Bloomberg Billionaires Index.
Ernest Garcia II’s company sel…
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