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Apart from Jeff Bezos, Mark Zuckerberg, and members of the Walton family of Walmart Inc., no individual has made more selling shares in their business in the past year than a used car mogul. from Arizona.
Documents filed by the company show that Ernie Garcia II, the father of Carvana Co. CEO, has sold more than $ 3.6 billion in shares since October. Sales amount to 16% of its holdings in the company. He has benefited from an ownership structure that gives him and his family benefits and allows them to retain control of the business, according to company documents. Some of these benefits may come at the expense of other shareholders, according to filings, legal action, and corporate governance and tax analysts.
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