Who owns Hertz Rent A Car?

John D. Hertz, the owner of the Yellow Truck and Coach Manufacturing Company, took notice and successfully purchased the company in 1923. It was then renamed Hertz Drive-Ur-Self System.

Jacobs continued to serve as president and chief operating officer of Hertz Drive-Ur-Self System until 1961. However, after only three years of ownership, John Hertz sold the rental car brand to General Motors Corporation in 1926.

GM purchased the rest of Yellow Truck and Coach Manufacturing Company in 1943. Under the ownership of General Motors, the company made some big changes. They released the first rental car charge card in 1926, opened its first rental car location at Chicago's Midway Airport in 1932, and introduced the first one-way rental plan in 1933.

John Hertz repurchased the brand from General Motors in 1953 through his other company, The Omnibus Corporation, which he renamed The Hertz Corporation.

In 1954, its stock began trading on the New York Stock Exchange, and it purchased a New York-based truck leasing company, Metropolitan Distributors. In 1967, The Hertz Corporation became a subsidiary of Radio Corporation of America.

In 1985, the car rental company was sold to UAL Corporation, later known as Allegis Corporation, for a cash deal of US $587.5 million. This acquisition expanded Hertz's vehicle renting and leasing. Allegis Corporation then sold Hertz to Park Ridge Corporation, which was owned and operated under Ford Motor Company in 1987.

After 18 years of ownership, the Ford Motor Company announced it would be selling the Hertz brand. Private equity firms Clayton, Dubilier Rice, The Carlyle Group, and Merrill Lynch Global Private Equity agreed to purchase all shares of common stock in Hertz.

The Clayton, Dubilier Rice consortium took Hertz Global Holdings public again on the New York Stock Exchange in November 2006. Hertz received international success until recent years when the paramedic impacted their business, and as a result, Hertz declared bankruptcy.

Since then, Hertz has a new ticker symbol (HTZZ) and a new CEO, Mark Fields, who is on a mission to accumulate one billion dollars from investors to help expand the rental car company even further.