Aside from Jeff Bezos, Mark Zuckerberg and members of the Walton family of Walmart Inc., no individual has earned more selling shares in his company in the past year than an Arizona used vehicle mogul.
Business statements show that Ernie Garcia II, the father of Carvana Co.’s CEO, has sold more than $ 3.6 billion worth of shares since October. Sales amount to 16% of its holdings in the company. He has benefited from a ownership structure that confers benefits on him and his family and allows them to maintain control of the business, according to company statements. Some of these benefits may come at the expense of other shareholders, depending on requests, a lawsuit, and tax and corporate governance analysts.