- Cousin of actor Tyrone Loukas.
- Lives on a ranch in New Mexico.
- Second youngest of eight siblings. Parents: Frank Lockwood and Katherine Lockwood
- Brother of Fay Lockwood, Frank Lockwood, Candy Castillo, Jonnie Pope, George Lockwood, Kitty Lockwood, and Dena Lockwood
- Uncle of actor Mark Huegelmann.
- He played the character of George in the original production of "Waiting for Ringo" at the Egyptian Arena Theatre in Hollywood. The production was produced by the Grace Players.
- Billy is a dear friend of actress Samantha Lockwood.
- Friends of actor Henry Herman.
- In 1990 Billy traveled on his motorcycle over 18,000 miles, for a year and two months, around the U. S. & Mexico.
- Great nephew of legendary director Joshua Logan.
- In 1997 he shared the stage with William H. Macy in an adaptation of Arthur Miller's Death Of A Salesman at a Chrismas Benefit for the Grace Players Theater Company, at the Egyptian Arena Theater in Hollywood. He again worked with Macy nine years later in the Disney film Wild Hogs (2007).
- Appeared in two films with actor Peter Fonda, Wild Hogs (2007) and 3:10 to Yuma (2007). Coincidentally, his great-uncle, the legendary director Joshua Logan and Peter Fonda's father Henry Fonda, were best friends.
- Father, with Barbara Bartleson, of actor Frank James Lockwood.
- Went to Bogan High School on Chicago's south side with Infinitum Nihil executive Bobby DeLeon. The two remain friends today.
- In 2015 nominated for Best Male Actor for his performance in the film That You Had Never Called (2014) at the Idyllwild International Festival of Cinema.
- Was romantically involved with actress Sandra Bullock while she was filming While You Were Sleeping (1995).
- For his role in 3:10 to Yuma he was trained by renowned Hollywood gun coach Thell Reed, who also trained actors Russell Crowe, Kurt Russell, Brad Pitt, Edward Norton, Sam Elliot, Girard Swan and Val Kilmer for Tombstone.
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