The question is: Could Jackson recreate the success of his 1985 tribute tune "We Are the World"? Our answer: Definitely. With support from Destiny's Child, Britney Spears, Justin Timberlake of 'N Sync and Nick Carter of the Backstreet Boys, Jackson is currently recording "What More Can I Give?" with the goal of raising $50 million for relief efforts, Jackson's spokesman, Howard Rubenstein, told ABCNews.com on Monday.
According to SonicNet.com, a Spanish-language version of the song is also in the works.
"I believe in my heart that the music community will come together as one and rally to the aid of thousands of innocent victims," Jackson said on a press release. "There is a tremendous need for relief dollars right now and through this effort, each one of us can play an immediate role in helping comfort so many people."
Who would know better than to come up with a project like this than Jackson, who in 1985 co-wrote the tune "We Are the World" with Lionel Richie, a song that would raise $65 million for USA for Africa, a fund that helps victims of starvation in Africa.
The song entered the Billboard Hot 100 on March 23, 1985 at No. 21 and won a Grammy for Song of the Year and Record of the Year.
While some may think that Jackson's effort to record a new song is only intended to increase interest in his comeback efforts, the King of Pop has always been involved in charitable organizations.
In October 1998, tenor Luciano Pavarotti and Jackson's close friend Elizabeth Taylor joined the superstar in a series of concerts Jackson organized and headlined to benefit the World Peace Foundation for Children (WPFC), in hopes of providing aid to needy children and families around the world.
In Jackson's opinion, music is capable of touching people's souls, and it's "time we use that power to help us begin the process of healing immediately," he told ABCNews.com.
Jackson is not alone. Other musicians are doing their part to pay tribute to the victims by donating to different relief funds.
Music producer Phil Ramone and television producer Merv Griffin assembled several of the artists in Los Angeles to attend a fund raising event at the Beverly Hilton Hotel on Sept. 16.
Bon Jovi, Billy Joel, Tom Petty and Bruce Springsteen, are some of the confirmed participants at the America: A Tribute to Heroes telethon being put together by the CBS, ABC, Fox and NBC networks. The event will be broadcast live from Los Angeles and New York Friday at 9 p.m. Eastern and Central. The show will be tape-delayed in the Mountain and Pacific time zones.
Singer Whitney Houston is taking a similar approach by planning to re-release her rendition of "The Star-Spangled Banner," which she originally performed before the Super Bowl XXV in 1991, when the nation had ended the Persian Gulf War. Houston's label, Arista Records, told SonicNet the singer will split the proceeds between the New York Firefighters Disaster Relief Fun and the New York Fraternal Order of Police Fund.
Janet Jackson, James Taylor and R&B singer Maxwell have joined the band Earth, Wind & Fire, Lynyrd Skynyrd, Backstreet Boys, and Sade with $10,000 each in donations to the ClearChannel.com Relief Fund.
Rebecca Allmon, director of public relations for Clear Channel World Wide, told Hollywood.com on Friday that the fund has raised $5.4 million through artist contributions, patron donations, and individuals around the country who can donate money over the phone or online through Clear Channel's official Web site.
"We are so overwhelmed with the generosity of Americans everywhere who are financially participating to express their outrage," Allmon said. "We are deeply fortunate to be in a position to make that happen."
Proceeds from the Clear Channel Relief Fund will benefit organizations including the New York, Washington, and Pennsylvania police, firefighters and emergency workers, the U.S. Military and National Guard personnel, and the national and local chapters of The American Red Cross and The Salvation Army.
By having access to media resources, such as radio stations and public service campaigns, Allmon said, billboards have been created across the nation with messages that read, "In God We Trust. United We Stand."
On Sept. 14 in Birmingham, Ala., Governor Don Siegelman, spoke and led an audience of 7,000 for a candle light vigil, where civil and religious entities had an opportunity to express their feelings on the tragedy, Allmon said.
Britney Spears, along with boyfriend Justin Timberlake of 'N Sync, have created The Giving Back Fund, a charity foundation to aid the families of victims of the attacks, Launch.com reports. The fund is gathering entertainers and athletes for a special event in the near future that will benefit victims.
Spears also plans to give $1 from each ticket sold for her upcoming fall tour, and hopes plans to raise $2 million in merchandise sales and by auctioning front-row seats at her shows, The Associated Press reported.
Janes Addiction's guitarist Dave Navarro had mobile units for blood for his Sept. 12 show in Pittsburgh, Pa., and Charlotte, N.C. show on Sept. 15. "Dave didn't feel comfortable with playing shows without doing something about it," Navarro's publicist, Bobbi Gale, told Hollywood.com on Friday.
Rock band Incubus donated the proceeds from their Sept. 15 and 16 shows in New York to relief efforts. Godsmack also donated their proceeds from the sale of their merchandise to the New York City Public and Private Initiative, a fund benefiting the families of police officers and firefighters.
After canceling her show on Sept. 11, the day of the attack, Madonna led a prayer for peace at her Staples Center performance in Los Angeles on Sept. 14. Other artists such as Aerosmith, Stevie Nicks, Janet Jackson and Cake have canceled shows in the aftermath of the tragedy.