Father-son duo make $16.7b in 3000pc stock rebound
Diana Li
New York City | The fortunes of the father-son duo behind Carvana have rebounded as shares of the Phoenix-based online used-car dealer have surged more than 3000 per cent from historic lows.
Ernie Garcia II and Ernie Garcia III have added more than $US11 billion ($16.7 billion) in combined net worth since December 2022, when Carvana stock fell below $US4 a share as rising interest rates sapped sales and the company was forced to restructure debt.
Bloomberg
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