Millionaires started in August 2007, when Melissa Marie and Allison made a song on their new laptop with GarageBand. They named the song "I Like Money", and decided they needed a name for themselves to make a MySpace profile for the song. Melissa Marie and Allison decided on Millionaires, to go with the name of the song. Soon after, Dani came in the mix, and they made their second song, "Hoe Down."