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 by releasing a single on the Highness label. He followed this in 1965 with a one-off single released on Edan Records followed by two more recorded singles; one was titled "The New Recruit" under the name "Michael Blessing", released on Colpix Records, coincidentally also the label of Davy Jones, though they did not meet until the Monkees formed. From 1965 to early 1970, Nesmith was a member of the television pop-rock band The Monkees, created for the television situation comedy of the same name. According to his May 2015 interview on Gilbert Gottfried's podcast, someone showed him a copy of