According to the book 1000 UK #1 Hits by Jon Kutner and Spencer Leigh, at his father's funeral, a friend took David Gates aside and said, "Your dad was so proud of what you were doing." David agreed by replying, "My success would have been so special to him as he was my greatest influence. So I decided to write and record Everything I Own about him. If you listen to the words, 'You sheltered me from harm, kept me warm, gave my life to me, set me free,' it says it all."
In 1974 the Jamaican singer Ken Boothe recorded a smooth reggae cover version that topped the UK chart. Booth sang "Anything I Own" instead of "Everything" but retained the original title, making it one of the few UK #1s not to have the actual title in the lyric.
Larry Knechtel played the part on the harpsichord during the chorus, and the kick drum was doubled to get a thicker sound.
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