Welch was backed by The Danes, a Copenhagen-based band, on this album.

The album was Welch's fourth album for Dead Reckoning Records, the label founded by Welch in 1994 along with fellow musicians Kieran Kane, Mike Henderson, Tammy Rogers and Harry Stinson.

William Ruhlmann of AllMusic concludes his review with, "On earlier records, you yearned to hear what a real singer could do with his compositions, but on Millionaire he has come into his own as a performer.

"[1] John Kenyon of Pop Matters writes, "Welch's songwriting is as sharp as ever, and he continues to grow into his craggy voice.

Few people hear his music, but for those of us who seek it out, Millionaire is another gem of a record.