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Feb 8, 1985 · Walter L. Jacobs, founder of the automobile rental business that became the Hertz Corporation, died Wednesday of a circulatory ailment at Cedars Medical Center in Miami. He was 88 years old.
Jun 17, 2022 · Over a century ago, in 1918, a gentleman called Walter L. Jacobs from Chicago, Illinois, founded Rent-A-Car. The small rental company began operation with only 12 Model T Ford cars. It was a huge success as the business flourished, and John D. Hertz set his sights on buying the business. 1923: Hertz Drive-Ur-Self
Hertz Global Holdings, originally known as Rent-a-Car Inc., was founded by Chicago, Illinois native Walter L. Jacobs in 1918. This small car rental operation began with a dozen Model T Ford cars. Within five years, Jacobs' fleet expanded to 600 vehicles—generating annual revenues of approximately US$1 million.
- Walter L. Jacobs
- Public company
- 1918; 105 years ago in Chicago, Illinois, U.S.
Feb 8, 1985 · Walter L. Jacobs, who started the first rent-a-car business in America with a fleet of 12 Model-T Fords and then sold his growing business to John Hertz in 1923, died Wednesday in Miami.
Walter Jacobs started his career as a car salesman after graduating from a Chicago high school. Jacobs was only 22 when he conceived the idea of renting automobiles, and with his savings, he purchased 12 used Model T Fords. He repaired and painted the cars, and rented a vacant lot.
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In Memoriam: Walter L. Jacobs. March 1, 1985 • Staff •. A founder of car rental industry and former Hertz president, Walter L. Jacobs died February 6, 1985, in Miami of a circulatory ailment. He was 88. Jacobs organized the world's first car-rental business in Chicago in 1918 with 12 Model T Fords. Five years later, he sold the operation to ...
Aug 9, 2021 · Walter L. Jacobs, 88, retired president and chief operating officer of Hertz Corp., founded the firm and invented the rent-a-car industry in 1918 in Chicago with 12 Model T Fords. Hertz now has ...
