Quick note, that's the English term, where Billlion is 10^9^. A lot other countries use the so called "Long Scale" where 10^9^ is called Milliard, and Billion is 10^12^.
Comparison of the 2 scales from Wikipedia:
| Power of 10 | American English (Short Scale) | European English (Long Scale) | |
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| | 10^6^| Million| Million | | 10^9^| Billion| Milliard | | 10^12^| Trillion| Billion | | 10^15^| Quadrillion| Billiard | | 10^18^| Quintillion| Trillion | | 10^21^ | Sextillion| Trilliard |