It is a baby (that isn't alive) that can work like a vinyl record that plays the sound of a baby screaming, not a screaming baby spinning on top of a record.
Person 1: "Oh, did you get the newly released 'Record baby'?"
Someone who is addicted to obtaining money and building wealth. A money addict and fanatic. Breadheads often work more than one full-time job, and some even participate in illicit activities to "obtain the bread".