Sumner Redstone is executive chairman of the board of both CBS Corp. and Viacom Inc.
His donation brings the current total of the $350 million MPTF Campaign, which began in February 2012, to more than $300 million.
The campaign was created to build permanent funding for the broad range of social and charitable services that MPTF provides to more than 15,000 entertainment industry workers and their families each year.
"For more than two decades Sumner Redstone has been one of the most generous supporters of MPTF and now with this extraordinary gift to the campaign, he is providing for future generations in the entertainment community who need the help, support and services of this extraordinary organization. I have admired Sumner as one of our industry's great entrepreneurs and business leaders as well as philanthropists and cannot thank him enough for giving back so generously," Jeffrey Katzenberg, chairman of the MPTF Foundation, said in a statement Tuesday.
"My life's work has been fueled by my passion for the entertainment industry," Redstone said. "At its essence, motion pictures and television programming are wonderfully collaborative enterprises that bring together the talents and skills of many individuals. For me, it is a privilege to help provide essential services for those who truly drive this industry, so they can continue to focus on bringing entertainment magic to so many around the world. I am proud to support the MPTF, a remarkable organization led by some of Hollywood's leading lights, in its long-term commitment to the film and television community."