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WealthCarvana Father-Son Duo Down $25 Billion, Leading Wealth RoutUsed-car retailer is caught in selloff of star pandemic stocksCompany’s leaders hit by 87% slump in shares since August peakErnie Garcia III, second left, and his father Ernest Garcia II in 2017. Photographer: Michael Nagle/BloombergByScott Carpenter+FollowMay 5, 2022, 9:39 PM UTCUpdated onMay 6, 2022, 12:38 PM UTCNine months ago, the father-son duo that runs used-car company Carvana Co. had a combined personal fortune of more than $32 billion. Ernie Garcia II and Ernie Garcia III have now shed almost 80% of that wealth, one of the biggest and fastest declines of any billionaire family or individual fortune, according to the Bloomberg Billionaires Index.
