Axelrod, whose daughter suffers from epilepsy, shaved his upper lip Friday morning live on NBC's "Today" show in an attempt to raise $1 million for Citizens United for Research in Epilepsy, the charity run by his wife.
"There are people who have lost a lot more than a mustache to epilepsy -- 50,000 people a year lose their lives," Axelrod said while having his mustache shaved.
Axelrod was joined by "Morning Joe" hosts Joe Scarborough and Mika Brzezinski. Axelrod and Scarborough had a wager prior to November's election stating the Obama adviser would shave his mustache if the president failed to carry Minnesota, Michigan and Pennsylvania. Axelrod won the bet but shaved his mustache anyway to benefit the charity.