$50 million from 12/12/12 concert headed to Sandy victims

The first $50 million raised from last week's 12/12/12 benefit concert is now filtering out to victims of Superstorm Sandy, organizers said Wednesday.

The Robin Hood Foundation will distribute the money to hundreds of organizations in the tri-state area that are helping victim, and organizers said more money could be on the way.

"We are forever grateful to the unlimited generosity that was shown to the people of the tri-state area from around the world," producers of the concert said.

The concert was the biggest ever held at Madison Square Garden, and the money was raised through ticket sales, signed memorabilia, iTunes sales and more, and Robin Hood chief David Saltzman said more fundraising is on the way.

The Dolan family owns controlling interests in the Knicks, MSG and Cablevision. Cablevision owns amNewYork.