First $50M from 12-12-12 Sandy concert distributed

by Jerry Shriver, USA TODAY

Posted December 18, 2012

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It's been a long, strange trip for Mick Jagger and Keith Richards, to the Sandy stage and beyond. Jagger noted that this was "the largest collection of old English musicians ever assembled in Madison Square Garden." (Credit: Kevin Mazur, WireImage, for Clear Channel)

NEW YORK - The Robin Hood Foundation is distributing the first $50 million of proceeds raised by last week's star-studded 12-12-12 concert to benefit victims of Hurricane Sandy, according to the event's producers.

The nearly six-hour concert at Madison Square Garden was presented by Chase and featured Bruce Springsteen, the Rolling Stones, Paul McCartney, Kanye West, The Who, Bon Jovi and a host of other musicians. It was broadcast and streamed to a worldwide audience of potentially 2 billion.

The initial proceeds came from ticket and merchandise sales, sponsorships and telephone and Web donations, according to a foundation statement. Additional money for the Robin Hood Relief Fund is expected from online auctions of signed memorabilia, the U.S. broadcast of the concert, iTunes sales of live tracks and CD/DVD sales.