There, I fixed it for you

"bi-", from Latin "twice", is a common word-forming element meaning "two, twice, double, doubly, once every two," etc.

Hence "billion" = "doubly million". It can be argued that it could mean "two million" but it has been accepted to mean "million squared". Likewise, "trillion" means "million cubed", "quadrillion" = "million to the fourth", and so on.

The Americans were too keen on big numbers and too impatient to earn a proper billion dollars so they invented a new meaning, to give them the illusion of being billionaires a bit earlier

BTW, the correct word for "a thousand million" is milliard. I suspect not many Brits know that word either.

And spelling, it seems Or are you on a mission to eliminate all apostrophes?