Bradley Foundation Endowment Balloons After Allen-Bradley Sale to Rockwell

Rockwell International acquired Milwaukee-based Allen-Bradley Company for $1.65 billion in February 1985, the largest acquisition in Wisconsin history. Proceeds from the sale swelled the renamed Lynde and Harry Bradley Foundation's endowment from roughly $14 million to about $290 million almost overnight. Hired from the Olin Foundation, Michael Joyce became Bradley's first president and steered grants toward Heritage, Federalist Society, Manhattan Institute, and conservative academic programs.