Jacobs continued to serve as president and chief operating officer of Hertz Drive-Ur-Self System until 1961. It was then renamed to Hertz Drive-Ur-Self System. Hertz, owner of Yellow Truck and Coach Manufacturing Company, developed an interest in the brand, leading to him purchasing the company in 1923. Within five years, Jacobs' fleet expanded to 600 vehicles-generating annual revenues of approximately US$1 million. This small car rental operation began with a dozen Model T Ford cars. Hertz Global Holdings, originally known as Rent-a-Car Inc., was founded by Chicago, Illinois native Walter L. As of July 1, 2021, the company is no longer in Chapter 11 bankruptcy. As of December 31, 2021, the company had revenues of $7.3 billion, assets of $19.7 billion, and 23,000 employees. The company filed for bankruptcy on May 22, 2020, citing a sharp decline in revenue and future bookings caused by the COVID-19 pandemic. Hertz was ranked 326th in the 2020 Fortune 500 list. As one of the largest worldwide vehicle rental companies by sales, locations, and fleet size, Hertz operates in 160 countries in North America, Europe, Latin America, Africa, Asia, Australia, the Caribbean, the Middle East and New Zealand. ![]() It is one of the three big rental car holding companies in the United States, holding a 36% market share, placing it ahead of both Enterprise Holdings and the Avis Budget Group. ![]() The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car, Firefly Car Rental and Thrifty Car Rental. Hertz Global Holdings (formerly The Hertz Corporation), known as Hertz, is an American car rental company based in Estero, Florida.
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