Yellow Cab
Hertz transformed a small Chicago taxi operation into Yellow Cab, introducing the iconic yellow color and new standards of service. It became America’s dominant taxi business.
A historical verdict
B.C. Forbes, founder of Forbes magazine, on Hertz’s career
“One of the most inspiring and most illuminating romances of modern American business.”
The legacy
Why this story matters.
Immigrant. Entrepreneur.
Innovator. Philanthropist.
Hertz DriveUrSelf
In 1923, Hertz acquired Walter Jacobs’ car rental business and created Hertz DriveUrSelf, laying the foundation for today’s Hertz brand.
Paramount Pictures
When Paramount Publix faced bankruptcy, Hertz became its finance chairman, helped engineer the company’s financial turnaround, and oversaw its transformation into Paramount Pictures.
Hertz Foundation
In 1957, John and Fannie Hertz established the Hertz Foundation to support America’s future scientists and engineers. Their legacy continues through the Hertz Fellowship.
More from the Hertz story (8 moments)
- 1920s Chicago Taxi Wars
- Yellow Cab’s rise sparked violent taxi wars in Chicago, including shootings, bombings and threats against Hertz and his family.
- 1924 Joseph P. Kennedy Sr.
- In 1924, Joseph P. Kennedy helped Hertz defend Yellow Cab’s stock during a dramatic Wall Street bear raid. Hertz later brought Kennedy into his expanding business interests.
- 1924 Fifth Avenue Coach Company
- Hertz expanded from taxis into mass transit, gaining control of New York’s Fifth Avenue Coach Company and building a major urban bus empire.
- 1925 General Motors
- In 1925, General Motors acquired control of Hertz’s manufacturing and car rental businesses. Yellow Truck & Coach later helped develop the GMC brand.
- 1928 / 1943 Kentucky Derby
- Hertz and his wife Fannie became major figures in horse racing. Their horses Reigh Count and Count Fleet became Kentucky Derby champions and in 1943 won Triple Crown.
- 1930 Lucky Strike
- In 1930, Hertz appeared in a national Lucky Strike campaign, lending his reputation as a leading businessman to one of America’s most famous brands.
- 1933 Lehman Brothers
- In 1933, Hertz acquired an 8% stake in Lehman Brothers, becoming its largest outside shareholder and later a partner in major investments.
- 1930s TWA
- Through Lehman Brothers, Hertz played a key role in the acquisition of Transcontinental & Western Air, the airline that became TWA.
Companies and brands named here are part of John D. Hertz’s history. They are not sponsors of this project.
