ALICE COOPER's former colleagues Michael Bruce, Dennis Dunaway and Neal Smith felt they could cash-in on some of the success achieved by the Cooper phenomenon by naming themselves after one of ALICE COOPER's most successful albums, the trio having been let go in 1974 after the 'Muscle Of Love' album. During their tenure with the ALICE COOPER band the trio had featured on albums with combined sale of over 25 million units.

The BILLION DOLLAR BABIES were promptly obliged to become involved in a huge legal battle over ownership of the name, resulting in the band's first and only album eventually seeing the light in 1977. Previous to the debut album release, BILLION DOLLAR BABIES performed four shows with support from UFO. The headline act's lavish stage set proving a costly white elephant. The album shipped some 60'000 copies but was recalled due to a mixing fault killing off any hopes of the band's future.

Following the almost inevitable demise of the band Dunaway and Smith formed the FLYING TIGERS. This act would evolve into DEADRINGER by pulling in ex-VICTORY vocalist Charlie Huhn, guitarist Jay Johnson and former BLUE ÖYSTER CULT bassist Joe Bouchard. DEADRINGER would release the 'Electrocution Of The Heart' album. Both Smith and Dunaway featured on BUCK DHARMA's solo album of 1982.

Smith later joined New York Shockers the PLASMATICS. Bruce would release a solo album in the mid 80s 'Rock Rolls On'. By 1995 Bruce had reformed BILLION DOLLAR BABIES together with guitarist Robn' Pillage, bassist Lan Nichols, his brother Paul Bruce on keyboards and drummer Ant Bee.

Dunaway and Smith returned in 2005 with BOUCHARD, DUNAWAY & SMITH, another collaboration with BLUE ÖYSTER CULT bassist Joe Bouchard.