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Arizona adds more billionaires to growing Forbes global list

The Forbes list says two more Arizonans have joined the list of the world's richest people
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Posted 4:00 PM, Apr 03, 2025

PHOENIX — A rising tide of billionaires worldwide has apparently lifted the boats of the super-rich in Arizona.

Forbes magazine released its list of the world’s richest people Tuesday, and it includes 15 Arizonans — two more than appeared on the list last year and three more than the list published two years ago.

Holding on to his title as the richest Arizonan is Carvana’s biggest shareholder, Ernest Garcia II, who is the founder of Drive Time Automotive. He has a net worth of $14.9 billion, according to Forbes, to land at No. 146 on the magazine’s global list. That’s a huge jump from his $8.9 billion worth last year — a testament to Carvana’s robust growth since then.

Read more of this story from the Business Journal.