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 the twelve-string guitar, performing on custom-built twelve-string electric guitars with the Monkees (built by Gretsch) and various twelve-string acoustic models during his post-Monkees career. He is also an executive producer of the cult film "Repo Man" (1984). In 1981, Nesmith won the first Grammy Award given for Video of the Year for his hour-long television show, "Elephant Parts". Nesmith was born in Houston, Texas, in 1942. He is an only child; his parents, Warren Audrey Nesmith and Bette Nesmith Graham, divorced when their son was four. He and his mother moved to Dallas to be closer to her parents, sister,