The Monkees most lucrative venture the three had ever seen in their days as the Monkees, far surpassing the money they had made in the 1960s. Nesmith had little financial need to join in Monkees-related projects, mostly as his mother Bette Nesmith Graham was the inventor of Liquid Paper, leaving Nesmith an inheritance of over $25 million upon her death in 1980. A new album by the touring trio, "Pool It!" (the Monkees' tenth), appeared the following year and was a moderate success. From 1986 to 1989, the Monkees would conduct major concert tours in the United States, Australia, Japan, and Europe.
Michael Nesmith period, Nesmith started his multimedia company Pacific Arts, which initially put out audio records, 8-tracks, and cassettes, followed in 1981 with "video records." Nesmith recorded a number of LPs for his label, and had a moderate worldwide hit in 1977 with his song "Rio," the single taken from the album "From a Radio Engine to the Photon Wing". In 1983, Nesmith produced the music video for the Lionel Richie single "All Night Long". In 1987, he produced the music video for the Michael Jackson single "The Way You Make Me Feel". During this time, Nesmith created a video-clip for "Rio"