Houston performed the song live on The X Factor in the UK on Sunday, October 18 the night before the album was released in that territory. The song received praise at the album's three listening parties and was cited as a "big comeback record". Beatz told MTV News that the process on the song started when he got a call from Clive Davis and record executive Larry Jackson. The song was produced by Keys with hip-hop producer Swizz Beatz producing an old school R&B beat.
Then I performed a year after, and she came up with the song 'Million Dollar Bill,' and I said, 'Wow, incredible'", Houston explained. “I walked over to her, and off the cuff said, ‘Hey, do you think you could produce me?’ She said, ‘Yeah, I think I can’. “When performed at one of parties the year before last, I kind of looked at her, and it was when she had record out, and it was the only record that came on the radio that inspired me. "Million Dollar Bill" was written by singer-songwriter Alicia Keys and samples R&B singer Loleatta Holloway's "We're Getting Stronger" from Holloway's 1976 'Loleatta' LP.
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