James Buchanan Duke (1856-1925), American industrialist. Duke is best known for founding the American Tobacco Company in 1890 through the merger of five US tobacco companies. The American Tobacco Company dominated the US market for over 20 years and expanded globally. In 1911, the company was ordered by the Supreme Court to break into smaller companies due to violation of antitrust laws. In 1924, he set up The Duke Endowment trust fund with $40 million. Money from The Duke Endowment was donated to Trinity College, Durham, North Carolina, which was later renamed Duke University after his father, Washington Duke (1820-1905). Painted by John Da Costa c. 1922.