Michael Nesmith Net Worth: Michael Nesmith is an American musician, songwriter and producer who has a net worth of $50 million. Michael Nesmith was born December 30, 1942 in Houston, Texas. He is best known for being a member of the 60s pop band sensation, The Monkees. Outside of Nesmith, The Monkees were made up of lead singer Davy Jones and members Micky Dolenz and Peter Tork. The wildly popular band also had a TV series called The Monkees which lasted from 1966–1968. Nesmith is a songwriter who has penned such hits as Different Drum (sung by Linda Ronstadt with the Stone Poneys). He was also the 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.
Michael grew up wealthy for a very interesting reason. In 1951, Michael's mother Bette Nesmith Graham invented the very first "correction fluid" out of her kitchen. Bette was a typist who was frustrated by the mistakes she made that would force to start over completely. She made her first variation using the family blender. The product was initially called "Mistake Out". Over the next 17 years, Bette sold the product, which was eventually renamed "Liquid Paper" from her home. In 1979, she sold the rights to Liquid Paper to Gillette for $47.5 million (royalties included).
Before becoming a professional musician, Nesmith went to San Antonio College where he developed a passion for folk music and started performing and recording his own compositions. He also spent two years in the U.S. Air Force, In the mid-1960s, Nesmith moved to Los Angeles to advance his career. In 1965, Michael Nesmith won a role on a new television series about a pop group modeled after the Beatles. The Monkees debuted in September 1966 and this made-up boy band soon developed a real following. The Monkees' popularity soon translated into an unexpected pop-chart success. They reached the No. 1 spot with I'm a Believer and Last Train to Clarksville. The group sold millions of albums, but struggled with their reputation as a manufactured act. Nesmith and the other band members began to take more creative control with 67's 'Headquarters', which featured numerous songs penned by the quartet. They also played many of the instruments for the recording as well, somewhat diffusing the notion that none of them had any musical talent. In recent years, Nesmith has largely stayed out of the public eye and lives a quiet life, reportedly in Carmel, California. Nesmith hasn't abandoned his great passion, however, and continues to work on his own music and with other musicians. Nesmith recently produced a track for Carolyn Wonderland's album Peace Meal.