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.
Bette Nesmith Graham an emphasis on product quality over profit motive. She also believed that women could bring a more nurturing and humanistic quality to the male world of business, and did so herself by including a greenbelt with a fish pond, an employee library, and a childcare center in her new company headquarters in 1975. Her only son, musician Michael Nesmith (best known as a member of The Monkees), inherited half of his mother's estate of over $50 million. A portion financed the Gihon Foundation which established the Council on Ideas, a think tank with a retreat center located north of Santa