Arne Rosencrantz was born on September 27, 1947 in Longview, Washington. He moved to Las Vegas, Nevada in 1952 and graduated from Las Vegas High School. He grew up in the dense Mormon population of the John S. Park Neighborhood. Rosencrantz attended Nevada Southern University, now known as the University of Nevada, Las Vegas (UNLV). In 1967, Rosencrantz began working at Garrett's Furniture and in 1979, he purchased the company and became its president.