James Buchanan Duke, known as "Buck" Duke, was an American tobacco and electric power industrialist best known for his involvement in the growth of the American tobacco industry and his pivotal role in establishing the Duke Power Company, the precursor to Duke Energy.
Born on December 23, 1856, in Durham, North Carolina, Duke grew up in the post-Civil War South. His father, Washington Duke, had a small landholding and grew tobacco, setting the stage for Duke's future success.
Duke's involvement in the tobacco industry began when he and his brother Benjamin took over their father's tobacco business, W. Duke, Sons & Co. The company was successful, but its real growth started in the 1880s when James Duke utilized the newly invented Bonsack cigarette-rolling machine, which could produce cigarettes far more efficiently than they could be made by hand. This gave the company a significant competitive advantage and led to its rapid growth.
In 1890, Duke's company merged with several competitors to form the American Tobacco Company, which quickly established a virtual monopoly over the American tobacco industry. Duke served as the company's president until 1911, when the U.S. Supreme Court found the company in violation of antitrust laws and ordered it to be broken up.
In the early 20th century, Duke turned his attention to hydroelectric power. He recognized the potential of the fast-flowing rivers in the Carolinas to generate electricity, and in 1905, he and his brother Benjamin founded the Southern Power Company, which later became known as the Duke Power Company. The company built a series of hydroelectric power plants and established an extensive electric power infrastructure in the Carolinas, providing the foundation for the region's industrial growth in the 20th century.
Throughout his life, Duke was known for his philanthropy. In 1924, he established The Duke Endowment, a private foundation that supports higher education, healthcare, children's welfare, and spiritual life in the Carolinas. He also provided the funds to transform Trinity College in Durham into Duke University, which was named in his family's honor.
James B. Duke passed away in 1925, leaving a significant mark on American industry and philanthropy. Today, Duke Energy is one of the largest electric power holding companies in the U.S., and Duke's legacy continues to shape the industries and communities he impacted.
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