Produced by Gamble and Huff for Philadelphia International Records, "For the Love of Money" was issued as a single in late 1973, with "People Keep Tellin' Me" as its B-side.

The song's title comes from a well-known Bible verse, 1 Timothy 6:10: "For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows."

Sigma Sound Studios owner/engineer Joe Tarsia noticed that Jackson had a wah-wah pedal attached to his Fender Precision Bass.

[citation needed] "For the Love of Money" was nominated for the 1975 Grammy Award for Best R&B Vocal Performance – Duo, Group or Chorus, losing to "Tell Me Something Good" by Rufus.

The rhythm and vocals are also used as the main backing track to Bone Thugs-n-Harmony's 1995 single "Foe tha Love of $," featuring Eazy-E.