Reported 16 days ago
Ernie Garcia II, father of Carvana CEO Ernest Garcia III, has profited $1.4 billion from selling company shares since April, as their value soared to $2.5 billion after a significant rally. Having sold nearly 10 million shares, he retains over 69 million Class B shares, contributing to his substantial net worth of $17.6 billion. The impressive rise in Carvana’s stock follows restructuring efforts that improved sales and reduced costs, leading to recognition from analysts. Garcia II's extensive trading has raised concerns among investors about possible stock market fluctuations.
Source: YAHOO