The former bodybuilder said that everyone “has the power” to help others during the festive period.
“This is what Christmas is all about,” he wrote on Twitter.
“All of you have the power to do something for someone else this holiday season.
“It doesn’t have to be big. Just give a few minutes of your time to help someone else.”
The money has been used to purchase 25 “tiny homes” – small housing units with beds and heating – to help homeless veterans in West Los Angeles
Schwarzenegger, who used to be the California governor, said continuously engaging with charity “makes me feel good.”
“I’m ecstatic, I’m really excited, this is the greatest gift,” he told local news show The Issue Is.
“We brought everyone together and there was no one that said it couldn’t be done.
“It makes me feel good that I can continuously give back to this country that means everything to me.”