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The original meaning of billion, established in the 15th century, was a million of a million (1,000,000 to the power of 2, hence the name billion), or 10 to the power of 12 = 1 000 000 000 000.
In British English, a trillion used to mean a million million million (i.e. 1,000,000,000,000,000,000). Nowadays, it's generally held to be equivalent to a million million (1,000,000,000,000), as it is in American English. The same evolution can be seen with quadrillion and quintillion.